Pitti Engineering Limited has informed the Exchange about receipt of order in favour of the Company
PITTIENG · price
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On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 0.3 pts less than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Pitti Engineering Limited has received a favorable order from the Commissioner of Income Tax (Appeals)-12, Hyderabad, dated 19th August 2025. The order was in response to an appeal filed on 21st January 2020, challenging an assessment order for Assessment Year 2017-18 that sought to treat certain unsecured loans as the company's income. The disputed tax demand was ₹923.08 lakhs, which had been disclosed in the company's standalone and consolidated financial statements since FY2019-20. The Commissioner has deleted the additions made by the Assessing Officer, ruling entirely in favor of the company.
Positive for shareholders — a ₹923.08 lakh tax liability that was hanging over the company has been successfully removed, easing contingent liability concerns. This win may improve investor sentiment and provide modest support to the stock.