Mastek receives Income Tax assessment order for FY23, additions of Rs 123.58 cr
MASTEK · 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 0.4 pts more than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Mastek received a Final Assessment Order from the Income Tax Department for FY 2022-23 on May 30, 2026. Total additions are Rs 123.58 crore, including Rs 90.95 crore in transfer pricing adjustments and Rs 32.63 crore under domestic tax laws. Penalty proceedings have also been initiated under section 270A. The company claims there are errors in the computation sheet, including a higher tax rate applied, non-allowance of foreign tax credit, and non-grant of advance tax credit for a merged subsidiary. Mastek plans to file objections before the Income Tax Appellate Authorities and says it expects no material financial impact.
Company plans to appeal and sees no material hit, but penalty proceedings and appellate outcome remain key risks to track.