FDC Limited has been informed of an order from the Assistant Commissioner of Income Tax, Mumbai, giving effect to an order by the Commissioner of Income Tax Appeals. This action confirms an aggregate refund of ₹14.20 crore for the Assessment Year 2016-17. The company has provided a detailed disclosure regarding this development, which is expected to impact its financial statements by crediting the interest income from the refund to its profit and loss statement.
Income Tax Appeal Outcome
FDC Limited has received a favourable outcome regarding its income tax assessment for the Assessment Year 2016-17. The Assistant Commissioner of Income Tax, Circle – 1(3)(1), Mumbai, has issued an order giving effect to a prior order passed by the Commissioner of Income Tax Appeals – 56 (“CIT(A)”). This development pertains to an appeal filed against disallowances made by the Assessing Officer (AO) concerning publicity expenses and other deductions under Section 14A.
Significant Tax Refund Determined
As a result of the favourable order from CIT(A) dated 29th September 2026, the jurisdictional AO has passed an order dated 29th October 2026, confirming an aggregate refund of ₹14.20 crore. This refund was received by the company on 3rd November 2026. The interest income component included in this refund will be credited to FDC Limited’s Statement of Profit and Loss as income, positively impacting the company’s financials.
Regulatory Disclosure
In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, FDC Limited has made a detailed disclosure of this event. The company confirmed that the appeal was initially filed against disallowances made by the AO, including those related to publicity expenses and other matters.
Source: BSE
