Announced Sat, 4 Jul · 14:01 IST
Subsidiary Abacus loses tax appeal; Rs 9.20 crore demand sustained
KALPATARU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-4.0%1-day move
₹308.70
prior close
₹310.30
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-1.3-1.4-1.4—-4.0-7.3-7.0-7.1-8.1-9.5-13.8———
Up moveDown movePending
AI summary
Kalpataru's wholly-owned subsidiary Abacus Real Estate lost its appeal before the Income Tax Appellate Commissioner (CIT-A) in Mumbai for Assessment Year 2013-14. The CIT-A upheld the assessing officer's addition to income, sustaining a net tax demand of Rs 9.20 crore (total Rs 15.44 crore less Rs 6.24 crore already paid). Kalpataru says this has no material financial impact on its operations. Abacus plans to file a further appeal under the Income Tax Act.
Likely market impact
Minor overhang from subsidiary tax dispute; company says no material impact. Further appeal pending, so final outcome is uncertain.