Deepak Nitrite Wins Stamp Duty Appeal; One Case Remanded
Deepak Nitrite Limited received favorable orders from CCRA on 7th January 2026. The CCRA set aside a ₹21 lakh stamp duty demand and ₹50,000 penalty. Another demand of ₹86.10 lakh stamp duty and ₹50,000 penalty was remanded for reassessment.
While positive, the financial impact is limited as one demand was set aside and the other is remanded for reassessment. The amounts involved, while significant, are not material enough to significantly impact the company's overall financials.
The company has won one appeal and has a favorable development in another, which is positive news.
Deepak Nitrite Limited (DNL) has received favorable orders from the Chief Controlling Revenue Authority (CCRA), Gandhinagar, concerning appeals against two orders from the Deputy Collector, Stamp Duty Valuation Department, Vadodara. The CCRA, in its orders dated 31st December 2025, received on 7th January 2026, has set aside the Dy. Collector's order dated 9th September 2024, which had demanded stamp duty of ₹21,00,000 and a penalty of ₹50,000.
Furthermore, the CCRA has remanded the matter related to the Dy. Collector's other order dated 9th September 2024, which involved a demand for stamp duty of ₹86,10,000 and a penalty of ₹50,000. This case has been sent back to the Dy. Collector for reassessment of documentary evidence.
These proceedings originated from a Show Cause Notice received on 25th July 2017, regarding alleged deficiency in stamp duty payment on memorandum of entries executed by the company on 27th May 2014 and 16th October 2014, related to term loan and working capital facilities.
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