Kalpataru Projects International Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
KPIL · price
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Awaiting price reaction for this filing.
The Commissioner of Income Tax (Appeals) in Mumbai has passed orders giving major relief to Kalpataru Projects International in tax appeals for assessment years 2013-14 to 2015-16 and 2017-18. The tax demand is expected to come down by INR 1.57 Crore, and the company will be eligible for a refund of INR 0.19 Crore. This follows re-assessment orders issued in April 2025, where the tax department had raised an aggregate demand of INR 141.31 Crores for 8 assessment years following a search conducted in August 2023. The company has stated that the orders do not have significant financial implications and plans to file further appeals on the remaining disputed points before higher appellate authorities.
Positive for shareholders as the appellate authority has sided with the company on most issues, validating management's view that it has a strong defence. The relief amount is modest relative to the original demand, but the favorable ruling strengthens the company's position in remaining tax disputes.