CG Power: Stay granted on revised ₹215.59 Cr tax demand

CG Power and Industrial Solutions Ltd has received an updated stay order from the Income Tax Department regarding a revised tax demand of ₹215.59 crore for Assessment Year 2022-23. The original demand was ₹188.78 crore, which was later revised to ₹236.73 crore and then further revised to ₹215.59 crore after a rectification order. The company has been granted a stay on the balance tax demand until the disposal of its appeal before the Commissioner of Income Tax (Appeals). However, 20% of the total revised demand must be deposited, with ₹30 crore payable in installments.