Income Tax Department passes assessment order demanding Rs 41.07 crore

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PARKHOTELS · price

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Price reactionminutes from the announcement price · days from the prior close

+0.3%Reaction day

₹119.40

prior close

₹120.51

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.9%-0.6% vs market

Hotels & Resorts peers, median of 57sector+0.0%+0.3% vs sector

On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 0.3 pts more than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Hotels & Resorts peers, median of 57Pending

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AI summary

Income Tax Department has passed an Assessment Order for AY 2024-25 against the company, raising a tax demand of Rs 41.07 crore (including interest) on account of certain disallowances and additions under various sections of the Income-tax Act. The company plans to file an appeal before the National Faceless Appeal Centre within prescribed timelines. It believes it has strong factual and legal grounds and expects a substantial portion of the demand to not sustain in appeal.

Likely market impact

Tax demand of Rs 41.07 crore but company plans to appeal and expects no material impact. Monitor appeal outcome.