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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On the reaction day the stock moved 0.8 pts less than Nifty Smallcap 250 and 0.2 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Income Tax Appellate Authority (CIT(A)) in Mumbai has passed orders providing major relief to the company in its appeals against re-assessment orders for Assessment Years 2013-14 to 2020-21, following a tax search conducted in August 2023. For AY 2013-14 to AY 2015-16 and AY 2017-18, the tax demand is expected to be reduced by ₹1.57 crore, with a refund of ₹0.19 crore expected. For AY 2018-19 to AY 2020-21, most additions were deleted and the demand is expected to be reduced significantly. The original aggregate demand was ₹141.31 crore (excluding AY 2016-17), and the ₹95.83 crore demand for AY 2016-17 was already rectified to nil in April 2025. The company plans to file further appeals for the remaining matters not accepted by CIT(A), stating it has a strong case based on legal advice and favorable precedents.
Positive for shareholders — the company is receiving significant relief on its tax disputes, with most demands either deleted or substantially reduced. The remaining contested matters are not expected to have significant financial implications, reducing the risk of a large cash outflow for the company.