CG Power and Industrial Solutions has received a stay order on a tax demand of ₹365.37 crore for the Assessment Year 2018-19. The stay, granted on January 29, 2026, requires the company to pay 20% of the demand in installments. The balance will be payable after adjustments of refunds.
Stay Order on Tax Demand
CG Power and Industrial Solutions announced that it has received a stay order regarding the tax demand for the Assessment Year 2018-19. The original demand amounted to ₹365,37,21,581.
Terms of the Stay
The stay order was issued on January 29, 2026. According to the order, the company is required to pay 20% of the tax demand. This will be done through 5 installments of ₹9,00,00,000 each. The announcement clarifies that the balance amount, also representing 20% of the disputed demand, will be payable in a 6th installment. This final payment is subject to adjustments for any refunds under section 245 of the Income Tax Act, 1961 arising in any assessment year. A prior announcement on November 19, 2025, disclosed the receipt of the assessment order.
Next Steps
The company has already filed an appeal before the Income Tax Appellate Tribunal, Mumbai to challenge the original additions/disallowances.
Source: BSE
