ICICI Lombard Wins Tax Appeals Valued at ₹2.28 Billion
ICICI Lombard General Insurance Company Ltd has received favorable orders from the Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Mumbai, confirming that its appeals have been allowed. These appeals pertained to demands totaling ₹1,095.68 Million for FY2008-09 to FY2011-12, FY2013-14 & FY2014-15, and ₹1,186.88 Million for FY2011-12, including penalties. The company had previously informed the stock exchanges about these appeals on January 12, 2026. The latest appeal order was received on June 9, 2026. This successful resolution of tax disputes is a significant positive development for the company, potentially impacting its financial position favorably by avoiding these substantial demands.
Key Highlights
- ICICI Lombard wins tax appeals totaling ₹2.28 billion.
- CESTAT allows appeals against service tax and Cenvat credit demands.
- Favorable outcome resolves tax disputes from FY2008-09 to FY2014-15.
- Company confirms receipt of all appeal orders.
- Positive development for the company's financial standing.
Price Impact
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