Vaibhav Global Limited has informed the Exchange about favorable order from Income Tax Appellate Tribunal, Jaipur
VAIBHAVGBL · price
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Vaibhav Global Limited has received a favorable order from the ITAT Jaipur Bench for Assessment Years 2020-21 and 2021-22. The Tribunal ruled in the company's favor on two key issues: transfer pricing adjustments (including methodology and notional interest on receivables) and the applicability of Section 115QA (buy-back tax). As a result, prior tax demands of approximately Rs. 91.81 crore for AY 2020-21 and Rs. 58.85 crore for AY 2021-22 stand deleted. No penalty, restriction, or non-compliance was flagged by the authority. The total relief of around Rs. 150.66 crore removes a significant overhang on the company's financial position.
Positive for shareholders — substantial tax liabilities have been wiped out, strengthening the company's earnings outlook and balance sheet. This removes a key uncertainty and may be viewed favorably by the market, though the department could still appeal further.