CIT(A) Sustains Tax Additions against Abacus Real Estate, Subsidiary of Kalpataru Ltd
The Commissioner of Income Tax (Appeal) has dismissed the appeal filed by Abacus Real Estate Pvt Ltd, a wholly owned subsidiary of Kalpataru Ltd., upholding additions made by the Income Tax Officer. The ruling pertains to an assessment order for the Assessment Year 2013-14, resulting in a net tax demand of Rs. 9.20 crore.The verdict relates to an appeal filed by Abacus against the original assessment order issued by the Income Tax Officer. Initially, the tax demand, inclusive of interest, amounted to Rs. 15.44 crore.
Following the proceedings before the CIT(A), which dismissed the appeal and sustained the additions made by the Income Tax officer, the net tax liability stands at Rs. 9.20 crore. This reduction reflects a payment already made of Rs. 6.24 crore against the original demand.
The financial details of the tax assessment outcome are summarized below:
| Detail | Amount (crores) |
|---|---|
| Original Tax Demand (including interest) | 15.44 |
| Amount Paid | 6.24 |
| Net Tax Demand after CIT(A) Ruling | 9.20 |
Kalpataru Ltd.'s subsidiary, Abacus, has indicated that it plans to contest the order or file an appeal as per the applicable provisions of the Income Tax Act, and is optimistic regarding a favorable outcome in future appeals.
The company noted that this specific Order does not have any material financial impact on the operations of Kalpataru Ltd. The information was received by the Company on July 3, 2026.
KALPATARU Stock Price Movement
On Friday, shares of Kalpataru Limited edged higher, closing the session at ₹308.8 after gaining 0.97%. The stock traded within a strong intraday range, hitting a low of ₹303.05 but reaching a high of ₹311.1.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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