KNR Constructions Receives ₹72 Crore Income Tax Order, Plans Appeal
KNR Constructions received a consequential income tax order for ₹72.03 crore, including ₹42.33 crore interest, related to FY07 agriculture land sale. The company plans to appeal the ITAT order before the Telangana High Court and anticipates no material financial impact.
While the company does not expect a material impact, the order amount is substantial and litigation can introduce uncertainty.
The company received a significant tax order, but it is planning to appeal and does not expect a material financial impact, keeping the sentiment neutral.
KNR Constructions Limited has received a consequential order from the Assistant Commissioner of Income Tax – Central Circle -2(2), Hyderabad, on December 13th, 2025. The order pertains to a demand of ₹72,02,63,934, which includes interest of ₹42,33,34,603, against an ITAT order for the Assessment Year 2007-08.
The demand is related to alleged Short Term Capital Gain on the sale of agriculture land in the Financial Year 2006-07. Based on legal advice, the company intends to file an appeal before the Hon’ble High Court of Telangana against the ITAT order.
KNR Constructions stated that they do not expect any material financial and operational impact at this point, as they are confident in the merits of their case. Any significant developments will be communicated to the stock exchanges.
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