Income tax assessment order quashed, no further action needed
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.2 pts less than Nifty Microcap 250 and 0.7 pts less than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The company has received communication from the Income Tax Department that the assessment order passed under section 153C by the Assessing Officer has been quashed. No further adjudication is required in this matter. The order copy has been shared with the stock exchange for records.
Positive for shareholders as a pending tax matter is resolved in the company's favor, removing potential financial liability and uncertainty.