Max Estates: ITAT Delhi Dismisses Max Square Limited's Appeal Regarding ₹63.78 Lakh Interest Income
Max Estates Limited announced that the Income Tax Appellate Tribunal, Delhi Bench, dismissed the appeal filed by its subsidiary, Max Square Limited, regarding interest income of ₹63.78 lakh for FY 2020-21. The order, received on February 25, 2026, upholds the decision of the National Faceless Appeal Centre. Max Estates believes there is no material impact and is evaluating further legal options.
The company has stated that there is no material impact on the financials, operations, or other activities of the company.
The announcement is about the dismissal of an appeal by a subsidiary, which is a neutral event. The company states there is no material impact.
Max Estates Limited announced that the Income Tax Appellate Tribunal (ITAT), Delhi Bench, dismissed the appeal filed by its subsidiary, Max Square Limited, in the matter of ITA No. 4100/Del/2025 (AY 2021–22). This order upholds the decision of the National Faceless Appeal Centre. The announcement refers to earlier intimations dated June 5, 2025, and January 1, 2026. The order was received on February 25, 2026. The appeal concerned interest income earned amounting to ₹63,77,502 during FY 2020-21. The tax authorities viewed that this interest income should be taxed separately under “Income from Other Sources,” while Max Square Limited had netted it off against interest costs already capitalized as part of the project cost. Max Estates Limited believes there is no material impact on the company's financials, operations, or other activities. Max Square Limited is evaluating further legal options, including an appeal before higher appellate authorities. The event occurred on February 25, 2026, at 11:09 hours (IST).
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Max Estates Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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