Tega Industries Subsidiary Wins Calcutta HC Case Against Income Tax

Tega Industries Ltd announced that its wholly owned material subsidiary, Tega McNally Minerals Limited (TMML), has received a favourable order from the Hon'ble Calcutta High Court. This order, dated October 14, 2026, and clarified by a rectification order on October 15, 2026, sets aside reassessment proceedings initiated by the Assistant Commissioner of Income Tax for Assessment Year 2017-18. The original tax demand, including interest, amounted to ₹13,78,92,170/-. The High Court's decision challenges the validity and maintainability of these proceedings. The company stated that the order is favourable and is expected to support TMML's position in similar matters, with no immediate quantifiable impact on financial or operational activities.