Accel Ltd Wins Income Tax Appeal, Rs. 7,38,33,247/- Addition Deleted

Accel Ltd has announced that the Office of the Commissioner of Income Tax (Appeal) has passed an order in its favor under Section 250 of the Income Tax Act, 1961 for Assessment Year 2018-19. The order has deleted an addition of Rs. 7,38,33,247/- made by the Assessing Officer (CPC) which had disallowed the set-off of Long Term Capital Loss against Long Term Capital Gains. This favorable order will have a positive impact on the financials of the company, with an approximate tax benefit of Rs. 1.63 crores.