Tata Steel Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
TATASTEEL · price
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Tata Steel informed exchanges that the Bombay High Court has set aside an Income Tax show cause notice and all subsequent proceedings related to the reassessment of its taxable income for AY 2019-20. The original notice, issued by the Deputy Commissioner of Income Tax, questioned the waiver of a ₹25,185.51 crore loan given to Tata Steel BSL Limited (now merged with Tata Steel). The Court annulled the notice on technical grounds, noting that it was issued by a Jurisdictional Assessing Officer instead of the statutorily required Faceless Assessing Officer. Tata Steel had filed a writ petition in March 2025 challenging the reassessment. The company has flagged that if relevant legal precedents change, tax authorities could revive the matter and it would then be decided on its merits.
Positive for shareholders — a major potential tax liability from the ₹25,185.51 crore debt waiver issue has been temporarily cleared, removing near-term earnings uncertainty. However, the relief is technical in nature and the underlying tax dispute could resurface if legal precedents shift.