Madras High Court Sets Aside ₹353.18 Crore Tax Demand Against Indian Railway Finance Corporation Limited
The Madras High Court has delivered a significant ruling for Indian Railway Finance Corporation Limited, setting aside an impugned order and recovery notice related to a substantial tax demand. The company learned of the court's decision on July 29, 2026.The Hon'ble Madras High Court passed the order on July 27, 2026, stating that the previous order and recovery notice are set aside. Consequently, the matter has been remanded for reconsideration by the tax authorities.
The demand that was set aside related to ₹353.18 crores. This amount was originally raised by the Assistant Commissioner (State Tax), Chennai, concerning ITC available in GSTR 2A but which was not claimed and subsequently lapsed.
Following this court intervention, the case is now under reconsideration. The High Court mandated that a fresh order must be issued within three months from the date of receipt of the court's order by the relevant authority.
IRFC Stock Price Movement
As of 10:31 AM, Indian Railway Finance Corporation Limited shares are shedding value in live trading, currently at ₹88.56 after dipping 0.64%. The stock has seen a significant influx of activity today, with a total traded volume reaching 2.67 million shares.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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