Sharda Motor Industries Limited has informed the Exchange about Action(s) taken or orders passed
SHARDAMOTR · price
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Sharda Motor Industries has received an appellate order dated March 27, 2026 from the Commissioner of Income-Tax (Appeals)-27, New Delhi, under Section 250 of the Income Tax Act, 1961, for Assessment Year 2022-23. The original outstanding tax demand was Rs 4.30 Crore. Based on the CIT(A) order, the company expects the Assessing Officer to reduce this demand to just Rs 5.22 Lakhs, a reduction of nearly 99%. The company will approach the Assessing Officer to give effect to the appellate order and then plans to file a further appeal before the Income Tax Appellate Tribunal (ITAT) for the remaining Rs 5.22 Lakhs. No violation or contravention has been alleged. This is a continuation of earlier disclosures on the same matter, the last being February 26, 2026.
This is a materially positive outcome for shareholders — the tax demand of Rs 4.30 Crore has been largely overturned on appeal, reducing the likely payable to Rs 5.22 Lakhs. This should ease any tax-related overhang on the stock and is unlikely to have a negative price impact.