TATA CONSUMER PRODUCTS LIMITED has informed the Exchange about Action(s) taken or orders passed
TATACONSUM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.1 pts more than Nifty 100 and 2.3 pts more than its Tea & Coffee peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Tata Consumer Products had earlier disclosed a tax demand of Rs. 2,69,29,49,860 (about Rs. 269.29 crore, including interest) raised by the Income Tax Department's Centralized Processing Center in Bengaluru, linked to a modified income-tax return filed for FY 2018-19. The company has now received a rectification order from the Deputy Commissioner of Income-tax, Circle 4(1), Kolkata, under which the entire tax demand has been deleted. All claims made by the company in its modified return have been fully reinstated, effectively closing this tax matter in the company's favor.
This is a positive outcome for shareholders — a potential Rs. 269 crore tax liability has been completely removed, removing a significant overhang on the stock. The resolution is likely to be viewed favorably by the market, though investors should note that tax matters can sometimes see further review by higher authorities.