Intimation on receipt of favourable appellate orders from the Commissioner of Income Tax (Appeals)

Puravankara Ltd has received favourable appellate orders from the Commissioner of Income Tax (Appeals) for three assessment years (2010-11, 2013-14, and 2014-15). The orders allow deductions under Section 80-IB of the Income-tax Act that were previously disallowed by the assessing authority, which had raised tax demands against the company. The tax disallowances totaling Rs. 83.37 crores across the three years have now been reversed, resulting in a cumulative reduction of tax liability worth Rs. 27.75 crores along with corresponding interest relief.