Navkar Corporation Limited has informed the Exchange about Action(s) taken or orders passed
NAVKARCORP · price
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Navkar Corporation has received a favorable order from the Income Tax Appellate Tribunal (ITAT) on August 14, 2025. The ITAT dismissed an appeal filed by the Income Tax Department against an earlier favorable order from CIT(A) for Assessment Year 2018-19. The original dispute involved additions to total income on grounds of disallowance of deduction under Section 80IA, improper apportionment of common expenses, and additions on account of sale of fixed assets. The company has consistently won at both CIT(A) and now ITAT levels.
This is a positive development for shareholders as the favorable ITAT order removes a long-pending tax uncertainty and confirms there is no financial impact on the company's books. It removes a potential tax liability overhang for A.Y. 2018-19.