CG Power Secures Stay on ₹215.59 Crore Tax Demand for AY 2022-23
CG Power received a stay on its revised tax demand of ₹215.59 crore for AY 2022-23. The stay is granted until the disposal of the company's appeal before the CIT(A), subject to a 20% deposit of the total demand, with ₹30 crore payable in installments.
The tax demand is significant, amounting to ₹215.59 crore. While a stay has been granted, the requirement to deposit a portion of this amount and the pending appeal could still impact the company's financial position and cash flow.
The company has secured a stay on the tax demand, which is a positive development. However, the demand itself and the conditions for the stay (deposit of 20% of the demand) indicate an ongoing and potentially costly legal process, thus the sentiment is neutral.
CG Power and Industrial Solutions Limited has received an updated stay order from the Income Tax Department concerning a revised tax demand for Assessment Year 2022-23. This follows a revisionary assessment order dated April 20, 2026, which initially raised a tax demand of ₹236.74 crore (236,73,81,955). Subsequently, a rectification order on June 4, 2026, revised this demand to ₹215.59 crore (2,15,59,04,546).
The company had previously appealed this revisionary assessment order before the Commissioner of Income Tax (Appeals) on May 18, 2026. In conjunction with the appeal, CG Power applied for a stay on the tax demand. The Income Tax Department, through an order dated September 7, 2026, has granted this stay until the disposal of the company's appeal. The stay is conditional upon the company depositing 20% of the total tax demand, with ₹30 crore to be paid in five installments, and the remainder subject to specific conditions outlined in the order, including potential refund adjustments.
What to do with a filing like this
CG Power and Industrial Solutions Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by CG Power and Industrial Solutions Limited. Read the original for the full detail.