Disclosure regarding order received under the Income Tax Act, 1961.
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Awaiting price reaction for this filing.
Neptune Logitek received an appellate order on 28 January 2026 from the Commissioner (Appeals) in connection with a FY 2012-13 (AY 2013-14) income tax assessment. The original assessment had added Rs. 38.33 crore to taxable income, leading to a tax and interest demand of about Rs. 27.62 crore. In appeal, the Commissioner (Appeals) deleted nearly the entire addition, sustaining only Rs. 63,751 out of Rs. 38.33 crore. The company has stated there is no tax or interest payable under the appellate order and no significant financial impact. Interest under section 234B and penalty proceedings are consequential and remain to be dealt with only on the small sustained amount of Rs. 63,751.
This is a major positive outcome for shareholders — an earlier potential liability of around Rs. 27.6 crore in tax and interest has been virtually wiped out, leaving only a negligible Rs. 63,751 addition. The stock may react favourably as a significant contingent liability risk has been resolved in the company's favour.