We would like to inform that Commissioner of Income Tax Appeal-44 Delhi has passed an order in favor of the Company by deleting the demand raised by the Assessing Authority for Assessment Year 2011-12. The disclosure of information pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 is provided in Annexure A. You are requested to take note of the same and inform members accordingly.
NIITLTD · price
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NIIT Limited has received a favorable order from the Commissioner of Income Tax Appeals-44, Delhi, in its appeal against an income tax assessment for Assessment Year 2011-12. The original demand of Rs. 5.34 crores raised by the assessing officer has been largely deleted, with almost all additions reversed. The only partial adjustment relates to a corporate guarantee charge, where the rate has been reduced from 1.77% to 0.7%. The order was received on June 13, 2025.
This is a positive development for shareholders as the tax demand was already disclosed as a contingent liability and will now be reversed, with no material adverse financial impact expected. The removal of this overhang could be modestly favorable for the stock.