Legal25 Mar 2026, 12:54 pm
Kalpataru Subsidiary Receives Orders Reducing Income Tax Additions Substantially
AI Summary
The subsidiary of Kalpataru Ltd, Agile Real Estate Pvt Ltd, has received Orders from the Commissioner of Income Tax (Appeal), Mumbai. These orders, passed under Section 250 of the Income Tax Act, 1961, reduce the 'additions to income' substantially for the Assessment Years 2019-20, 2020-21, 2021-22, 2022-23, and 2023-24. Although this reduces the financial impact on the Company, Agile plans to prefer appeals against these orders before the appropriate appellate Authority. The Orders were received on March 24, 2026, between 01:20 p.m. to 03:30 p.m.
Key Highlights
- Kalpataru's subsidiary, Agile Real Estate Pvt Ltd, receives Orders from CIT(A) reducing additions to income substantially
- Orders passed under Section 250 of the Income Tax Act, 1961 for Assessment Years 2019-20 to 2023-24
- Agile to prefer appeals against the CIT (A) orders before the appropriate appellate Authority
- No material impact on the financials of the Company
- Orders received on March 24, 2026, between 01:20 p.m. to 03:30 p.m.