Income Tax order for AY 2019-20 after CIT(A) relief

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Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-1.4%+1.0% vs market

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AI summary

Income Tax department issued a consequential order for AY 2019-20. Original demand of about Rs 100.44 crore was challenged by the company, and CIT(A) allowed the appeal. The revised demand after giving effect to CIT(A) order now stands at Rs 8.89 crore. Company says there is no impact on financials or operations and will update on any further development.

Likely market impact

Reduced tax demand is positive, but a Rs 8.89 crore liability remains. No material impact on operations stated.