Income tax demand of Rs 159.92 crore for AY 2022-23

Litigation LossRegulatory & Legal View source PDF Explain this filing

QUESS · price

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

+1.0%Reaction day

₹208.00

prior close

₹207.90

announcement price

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Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-1.3%+2.2% vs market

Diversified Commercial Services peers, median of 69sector-0.4%+1.4% vs sector

On the reaction day the stock moved 2.2 pts more than Nifty Microcap 250 and 1.4 pts more than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Diversified Commercial Services peers, median of 69Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Quess Corp received a final income tax assessment order for Assessment Year 2022-23 dated January 24, 2026, raising a demand of Rs. 159.92 crore. Major disallowances relate to Section 80JJAA deduction and certain expenses. The company plans to appeal and contest the order, citing strong legal advice and precedents. This follows an earlier Dispute Resolution Panel direction from December 2025.

Likely market impact

An adverse tax demand of Rs 159.92 crore. Company plans to appeal, so final impact depends on the outcome of the legal process.