SAGILITY LIMITED has informed the Exchange about the order received under section 143(3) read with section 144C(13) & 144B of Income Tax Act 1961 for AY 2022-23
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Sagility Limited has informed the stock exchange that it has received an income tax order for Assessment Year 2022-23. The order has been passed under Section 143(3) read with Sections 144C(13) and 144B of the Income Tax Act, 1961. Section 144C typically relates to transfer pricing disputes and proceedings before the Dispute Resolution Panel (DRP), while Section 144B deals with the e-assessment scheme. The headline does not disclose the exact tax demand amount raised or whether the order is favorable or unfavorable to the company. Shareholders would need to watch for further disclosures detailing the quantum of any demand, penalties, or interest, and whether the company plans to contest the order.
Tax assessment orders involving transfer pricing can lead to additional financial liabilities, impacting the company's earnings and cash flows. Until the demand amount and the company's response (pay or appeal) are disclosed, the near-term impact on the stock remains uncertain.