Schneider Electric Infra gets ITAT stay on Rs 13.83 cr tax recovery
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Schneider Electric Infrastructure has obtained a stay order from the Income Tax Appellate Tribunal, Ahmedabad against recovery of a Rs 13.83 crore tax demand for Assessment Year 2021-22. The Deputy Commissioner had earlier reduced the additional tax demand to this amount. The company must pay 20 percent of the disputed demand within two weeks. Recovery of the balance amount is on hold pending the appeal outcome.
Positive: tax recovery is stayed, easing immediate cash outflow. Company must deposit 20 percent of the disputed demand.