Subsidiary TMML wins Calcutta HC order; Rs 13.79 cr tax reassessment set aside

Court Stay ObtainedRegulatory & Legal View source PDF Explain this filing

TEGA · price

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Price reactionminutes from the announcement price · days from the prior close

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prior close

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Industrial Products peers, median of 131sector-1.3%-1.4% vs sector

On the reaction day the stock moved 1.6 pts less than Nifty Smallcap 250 and 1.4 pts less than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Tega McNally Minerals Ltd (TMML), a wholly owned material subsidiary of Tega Industries, received a favourable order from the Calcutta High Court on October 14, 2026. The court set aside reassessment proceedings initiated by the Income Tax Department for Assessment Year 2017-18, which carried a tax demand of about Rs 13.79 crore including interest. No financial impact is expected. The order is likely to support TMML's position in similar matters.

Likely market impact

Positive - removes Rs 13.79 cr tax demand overhang on subsidiary TMML, strengthening its financial position.