Legal30 Jul 2026, 10:27 am
Madras High Court sets aside ₹353.18 Cr tax demand on IRFC
AI Summary
Indian Railway Finance Corporation Ltd (IRFC) has received an order from the Hon'ble High Court of Judicature at Madras dated July 27, 2026. The court has set aside a recovery notice and remanded the matter for reconsideration. This order effectively nullifies a demand of ₹353.18 crores raised by the Assistant Commissioner (State Tax), Chennai, related to ITC available in GSTR 2A but not claimed. A fresh order will be issued within three months after providing a personal hearing to the petitioner. The company has also stated that there are no applicable developments regarding litigation against key management personnel or its promoter.
Key Highlights
- Madras High Court order received on July 29, 2026.
- ₹353.18 crore tax demand set aside by the court.
- Matter remanded for reconsideration with a fresh order expected in three months.
- No applicable developments in litigation against key management.
Price Impact
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