Nuvoco Vistas Corporation Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
NUVOCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Nuvoco Vistas has received an Income Tax assessment order from the Faceless Assessing Officer in Mumbai for FY 2022-23, dated March 13, 2026. The order has raised a proposed tax demand of Rs. 11.89 crores on certain disallowances. The company says the disallowances are similar in nature to those in previous years' orders. Management is reviewing the order and plans to file an appeal before the Commissioner of Income Tax (Appeals), Mumbai, relying on legal precedents. The company is confident of getting the order set aside at a higher forum.
The Rs. 11.89 crore demand is relatively small compared to the company's size and may not materially impact financials, but an adverse final ruling could result in a cash outflow. Near-term stock impact is likely limited as the company has not lost the case and intends to appeal.