Crisil Limited Secures Favorable Ruling from CIT(A) in Tax Dispute Over TDS Obligations
Crisil Limited has received a favorable order from the Commissioner of Income Tax (Appeals) regarding an appeal against Tax Deduction at Source (TDS) proceedings. The ruling, issued on June 17, 2026, pertains to Assessment Year 2014-15 and addresses TDS obligations related to payments made to non-residents.The Commissioner of Income Tax (Appeals) upheld the appeal, concluding that Crisil Limited cannot be treated as an assessee in default since the respective payments were not liable under the relevant TDS provisions. This litigation involves the company versus the Income Tax Department and was heard by the CIT(A), Mumbai.
The outcome provides relief regarding the tax demand related to these transactions. The company anticipates filing for Order giving effect with the Assessing Officer, which is expected to result in the relief of a TDS demand, including interest, amounting to INR 40.23 Crores.
Key details concerning the litigation are summarized below:
| Particulars | Details |
|---|---|
| Opposing Party/Agency | Income Tax Department |
| Tribunal/Court | Commissioner of Income Tax (Appeals), Mumbai |
| Dispute Summary | The appeal concerned TDS obligations on payments made to non-residents. The CIT(A) ruled favorably, holding that the company was not an assessee in default regarding these payments. |
| Financial Implication | There is no immediate impact on the financial or operational activities of Crisil Limited. Relief of INR 40.23 Crores (TDS demand and interest) is anticipated. |
The favorable order represents a significant step in the ongoing tax litigation, as it allows the company to contest relief against the previously levied TDS demand pertaining to non-resident payments.
CRISIL Stock Price Movement
On Thursday, shares of Crisil Limited edged higher, closing at ₹4121.4 after gaining 0.62% during the trading session. The stock traded within a range of ₹4053 to ₹4129, with a total traded volume of 43,193 shares recorded.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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