Puravankara Limited has informed the Exchange about receipt of favourable appellate orders from the Commissioner of Income Tax (Appeals)
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On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 0.8 pts less than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Puravankara Limited 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 have allowed deductions claimed under Section 80-IB of the Income-tax Act, 1961, which were previously disallowed by the assessing authority. The tax disallowances totaling Rs. 83.37 crores (Rs. 19.61 crore + Rs. 39.03 crore + Rs. 24.73 crore) across the three years have now been upheld in the company's favour. This results in a total reduction of tax liability by Rs. 27.75 crores (Rs. 6.67 crore + Rs. 12.67 crore + Rs. 8.41 crore) along with corresponding interest. The orders giving effect have been received on May 4, 2026.
This positive tax ruling eliminates a significant financial liability of Rs. 27.75 crore plus interest, which is a boost to the company's financials. While the stock may see modest positive sentiment, the actual cash benefit depends on whether tax refunds are due or if liabilities were already paid.