Polycab India Receives ITAT Order Upholding Relief on Income Tax Assessments
Polycab India Limited has received an order from the Income Tax Appellate Tribunal (ITAT) regarding assessments made by the Income Tax Authority. The ITAT dismissed the appeal filed by the Income Tax Department, thereby upholding the relief granted previously by the CIT(A), and the company confirmed that it does not expect any adverse impact on its financials or operations resulting from the order.The ITAT Order pertains to Section 254 of the Income Tax Act, 1961, covering Assessment Years ranging from 2015-16 to 2023-24, which correspond to Financial Years 2014-15 to 2022-23.
The matter arose following earlier intimations regarding the assessment order(s) and subsequent appellate proceedings against additions or disallowances made by the Income Tax Authority. The CIT(A) had granted complete relief in the initial stages of the dispute before the Department decided to appeal the decision to the Hon'ble ITAT.
Key details of the order received by Polycab India Limited are summarized below:
| Detail | Description |
|---|---|
| Authority | Income Tax Appellate Tribunal, Mumbai (ITAT) |
| Order Type | ITAT Order under Section 254 of the Income Tax Act, 1961 |
| Assessment Years Covered | 2015-16 to 2023-24 |
| Date of Receipt | June 24, 2026 |
Following the dismissal of the appeal by the ITAT, which upheld the order of the CIT(A), Polycab India Limited stated that, in consultation with its tax advisors, the company does not expect any adverse impact on its financials or operations arising from this specific Income Tax Department appeal.
POLYCAB Stock Price Movement
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