Tilaknagar Industries announced that the Commissioner of Income Tax (Appeals) has passed an order for the assessment years AY 2016-17 to AY 2024-25. Following appeals against previous Assessment Orders, the company has been granted partial relief aggregating to approximately ₹169 crores. The company stated there is no material impact on its financial position or operations based on current risk assessment.
Income Tax Appellate Order Received
Tilaknagar Industries Ltd. has informed stakeholders regarding a recent order passed by the Commissioner of Income Tax (Appeals) under Section 250 of the Income Tax Act, 1961. This order pertains to tax assessments covering the period from AY 2016-17 up to AY 2024-25. The communication confirming this ruling was received by the company on March 30, 2026.
Basis of Original Assessment and Appeal
The initial assessments were finalized by the Assessing Officer following search and survey proceedings conducted by the Income Tax Department. These orders included additions and disallowances made under sections 143(3) and 147 of the Act for the specified assessment years. In response, the company had previously filed appeals before the Commissioner of Income Tax (Appeals), ensuring timely submissions of required documents.
Partial Relief Granted
After reviewing the Assessment Order and the submissions made by the company, the Commissioner of Income Tax (Appeals) granted partial relief. This relief aggregates to approximately ~Rs 169 crores, representing a reduction in the additions previously made by the Assessing Officer during the hearing periods.
Financial and Operational Impact Assessment
Based on the company’s internal risk-assessment process and applicable legal frameworks, management has concluded that there is no material impact on the financial position, operation, or other activities of the Company resulting from this order. The company intends to review the Commissioner’s Orders thoroughly and will determine the appropriate further course of action as deemed necessary.
Source: BSE
