MphasiS Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
MPHASIS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
MphasiS has received a rectification order from the Income Tax department dated September 26, 2025, for Assessment Years 2018-19 and 2019-20. The original tax demand of ₹232.37 crore under Section 201/201(1A) of the Income Tax Act has been reduced to ₹108.56 crore, a net reduction of ₹123.82 crore (around 53%). The rectification was granted by the DCIT, International Taxation Circle 1(1), Bangalore, on the company's rectification application. The company is still contesting the remaining demand before appellate authorities and expects additional relief.
Positive for shareholders — the tax liability has been nearly halved, easing the potential cash outflow and earnings hit from this dispute. However, the matter remains open and the residual demand of ₹108.56 crore is still material, so further developments from the appellate process will be key to watch.