Disclosure Under Regulation 30 of SEBI LODR: Favourable Income Tax Assessment Order
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Awaiting price reaction for this filing.
NIS Management Ltd informed the stock exchange that its subsidiary, NIS Facility Management Services Private Limited, received a favourable income tax assessment order for Assessment Year 2024-25. The assessment was conducted under the Computer Assisted Scrutiny Selection (CASS) mechanism, and the Assessing Officer accepted the returned income of ₹82,31,190 without any adverse additions or tax demand. The proceedings, which were previously disclosed in the company's Red Herring Prospectus, now stand fully concluded. The company has stated there is no financial impact on either NIS Management Ltd or its subsidiary.
This is a positive, low-impact development for shareholders — the removal of a previously disclosed tax uncertainty reduces overhang, but no extra income or gain is recognized. The stock is unlikely to see a material price reaction.