Uniparts India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
UNIPARTS · price
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Uniparts India has informed the exchanges that the Assistant Commissioner of Income Tax, Circle 25(1) – New Delhi, has issued a rectification order against the earlier assessment for Assessment Year 2024-25. As a result, the income tax demand of ₹25,79,86,410 (approximately ₹25.80 crore) has been fully deleted. The order was received by the company on April 17, 2026, at 2:33 p.m. The company had previously disclosed the original demand in its February 12, 2026 communication. No settlement terms or penalties were involved, as this was a rectification under Section 154 read with Section 143(3) of the Income-tax Act, 1961.
This is a positive development for shareholders — the full deletion of a ~₹25.80 crore tax demand removes a potential liability and could improve the company's financials and cash position going forward. The news may be viewed favourably by the market.