Announcement under Regulation 30 of SEBI (LODR)Regulations, 2015.
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On the reaction day the stock moved 10.7 pts more than Nifty Microcap 250 and 12.2 pts more than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Sangal Papers Ltd informed the stock exchange about an Income Tax appellate order dated 28 January 2026 from the office of the Addl/JCIT (Appeals)-5, Delhi. The order was passed under Section 250 of the Income Tax Act, 1961, on an appeal filed against an earlier CPC intimation dated 22 January 2025. The original demand of Rs. 14.74 lakh arose from a disallowance of Rs. 46.33 lakh of bonus expense under Section 43B for Assessment Year 2024-25. The company argued that the bonus, though unpaid as of the audit date, was actually paid before the return filing due date, making it allowable as a deduction. The appellate authority accepted this argument and allowed the appeal, directing the Assessing Officer to verify the payment and grant the deduction. The company described the impact as positive since the order is in its favor.
This is a positive development for shareholders as Sangal Papers won the tax appeal, which could save the company the Rs. 14.74 lakh demand and protect its earnings. The matter is a routine tax dispute resolution and is unlikely to materially move the stock price.