CIT(A) -28, Delhi, has vide orders dated 27.03.2026, disposed off the aforesaid appeals and disallowed the Company''s claim under Sections 80-IA/ 80-IB for Assessment Year 1995-96 to 2004-05. The ....
ZFSTEERING · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Commissioner of Income Tax (Appeals)-28, Delhi, through orders dated 27 March 2026, has rejected ZF Steering Gear India's claim for tax deduction under Sections 80-IA and 80-IB of the Income-tax Act for 10 assessment years spanning AY 1995-96 to AY 2004-05. This matter was previously remanded back to the CIT(A) by the Income Tax Appellate Tribunal, Pune Bench, in 2006-2008 for fresh adjudication. Importantly, the company states that it had already paid the entire tax demand arising from these disallowances during the original assessment, so the recent CIT(A) orders do not create any additional financial liability. Based on legal advice, the company plans to file rectification applications and further appeals before higher appellate authorities to challenge these orders.
Despite the unfavourable CIT(A) ruling, there is no fresh cash outflow for shareholders since the disputed tax was already paid years ago. The stock is unlikely to see meaningful reaction, though the long-drawn tax dispute (spanning three decades) continues to remain a background overhang as the company pursues further appeals.