KPIL secures major tax relief and refunds, demand of ₹81.53 crore set aside for AY 2019-20
The cumulative financial relief, including the setting aside of a tax demand of ₹81.53 crores and the nullification of a ₹95.83 crore demand, along with eligibility for refunds, represents a substantial reduction in the company's tax liabilities. This resolution of significant litigation has a high positive impact on the company's financial position and cash flow.
The company has successfully challenged significant tax demands across multiple assessment years, resulting in a substantial tax demand of ₹81.53 crores being set aside, an erroneous demand of ₹95.83 crores being nullified, and eligibility for refunds, which is a significant positive financial outcome.
* Kalpataru Projects International Limited (KPIL) announced on 19 September 2025 that the Hon’ble Deputy Commissioner of Income Tax (DCIT), Mumbai, issued an Order Giving Effect (OGE) for Assessment Year (AY) 2019-20. * Pursuant to this OGE, a tax demand of ₹81.53 crores for AY 2019-20 has been set aside. * The Company is also eligible for a refund of ₹7.35 crores for AY 2019-20. * This latest development is part of a series of favorable orders and rectifications received by KPIL concerning various income tax demands. * Earlier, on 11 September 2025, a rectification order for AY 2020-21 reduced an initial demand of ₹38.51 crores to ₹25.38 crores, with further significant reduction expected. * On 1 August 2025 and 31 July 2025, the Hon’ble Commissioner of Income Tax (Appeals) - CIT(A) passed orders for AY 2013-14 to AY 2015-16, AY 2017-18, AY 2018-19, and AY 2020-21, providing major relief by reducing disallowances. * For AY 2013-14 to AY 2015-16 and AY 2017-18, the demand was reduced by ₹1.57 crore, making the Company eligible for a refund of ₹0.19 crore. * Previously, on 3 April 2025, an erroneous demand of ₹95.83 crores for AY 2016-17 was rectified and reduced to Nil. * These outcomes stem from reassessment orders initially received on 1 April 2025, following a search in August 2023, which had raised an aggregate demand of ₹141.31 crores (excluding the erroneous AY 2016-17 demand). * KPIL has consistently maintained that it has a strong case and favorable precedents to defend these matters, expecting no significant financial implications from the original demands.
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Kalpataru Projects International Limited filed this with the NSE as a statutory disclosure, categorised under legal. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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