Tax & Penalty4 Oct 2026, 05:30 pm
RITES Ltd Wins Tax Appeal, Gets ₹38.3 Cr Relief
AI Summary
RITES Ltd has received a favorable order from the Hon'ble Deputy Commissioner of State Tax (Appeal-1), Ahmedabad, Gujarat, allowing its appeal against a demand order for FY 2019-20. The company was granted relief amounting to ₹38,30,49,704/- (₹38.30 Crore) in respect of tax, interest, and penalty. This order partially sets aside the demand raised by the State Tax Officer. The company had made a pre-deposit of ₹1,93,00,013/- (₹1.93 Crore) during the appeal process. Consequently, RITES Ltd has no further liability related to this specific demand.
Key Highlights
- RITES Ltd secured significant tax relief of ₹38.30 Crore.
- Favorable appellate order received for FY 2019-20 tax demand.
- Demand for tax, interest, and penalty has been partially set aside.
- No further tax liability arising from the contested demand.
Price Impact
More from RITES