Tax tribunal allows company's deduction claim for 10 years, refunds expected

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ZFSTEERING · price

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

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₹667.10

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.7%-0.7% vs market

Auto Components & Equipments peers, median of 124sector+0.0%-0.1% vs sector

On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.1 pts less than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Auto Components & Equipments peers, median of 124Pending

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AI summary

Delhi Income Tax Tribunal allowed ZF Steering Gear's appeal for tax deductions under Sections 80-IA and 80-IB covering 10 assessment years from 1995-96 to 2004-05. The company had already paid the disputed tax demand earlier and will now file applications with the Assessing Officer to receive income-tax refunds along with applicable interest.

Likely market impact

Positive for shareholders - company set to recover previously paid taxes plus interest, which should boost cash flows once refunds are processed.