KNR Constructions has received an order from the Asst. Commissioner of Income Tax relating to alleged short-term capital gains from the sale of agricultural land in FY 2006-07. The order demands ₹72.03 crore, including interest. KNR Constructions plans to appeal the order before the Hon’ble High Court of Telangana and does not expect a material impact on its financials or operations at this time.
Income Tax Order Details
KNR Constructions received an order on December 13, 2025, from the Asst. Commissioner of Income Tax, Central Circle-2(2), Hyderabad, regarding a disputed matter related to the assessment year 2007-08.
Nature of the Order
The order pertains to alleged short-term capital gains arising from the sale of agricultural land in the financial year 2006-07. The total demand is ₹72,02,63,934, which includes an interest component of ₹42,33,34,603. This order follows an earlier ruling by the Income Tax Appellate Tribunal (ITAT).
Company’s Response
KNR Constructions, based on the advice of its counsel and the merits of the case, intends to file an appeal against the ITAT order before the Hon’ble High Court of Telangana. The company currently anticipates no material impact on its financial or operational activities. Any significant developments regarding this matter will be disclosed to the stock exchanges.
Source: BSE
