Redington Limited announced receiving a favorable order from the Commissioner of Income Tax (Appeals) on March 11, 2026. The order quashes a significant portion of the tax demand amounting to INR 230.21 Crore, which was part of a larger claim raised by the Assessing Officer for Assessment Year 2020-21. The company had previously contested the total demand of Rs 233.66 crores before the appellate authorities.
Favorable Outcome in Tax Appeal
Redington Limited has officially informed the stock exchanges regarding a significant favorable development concerning tax litigation for the Assessment Year 2020-21. The Commissioner of Income Tax (Appeals) has passed an order that substantially reduces the outstanding demand.
Specifically, the appellate authority has quashed the demand totaling INR 230.21 Crore. This amount represents the majority of the initial demand of Rs 233.66 crores that the Income Tax Department had raised previously. The initial assessment order and demand notice were intimated to the exchanges on September 30, 2023.
Details of the Communication
The order from the CIT (Appeals) was received by the Company on March 11, 2026, at 9.51 am. The company confirms that it had actively contested the demand through the appropriate appellate channels, leading to this positive resolution.
The impact on the financial or operational activities of the listed entity in monetary terms related to this specific quashed portion of the demand is stated as NIL, as the liability has been successfully overturned by the order. The company confirms that comprehensive details, as mandated by disclosure norms, are provided in the enclosed Annexure A.
Source: BSE
