Shalby Limited Receives Order from ITAT Demanding Rs. 4.14 Cr
Shalby Limited confirmed receiving an order from the Income Tax Appellate Tribunal (ITAT) on April 10, 2026. The order, dated March 16, 2026, concerns the company and requires the payment of Rs. 4.14 cr.The order, which was received by the company on April 10, 2026, pertains to an action taken against the company by the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench.
The core of the matter involves the issuance of unquoted shares by Shalby Surat Hospital Pvt. Ltd. (SSHPL) at a premium based on book value, prior to the demerger. The Assessing Officer had disallowed this premium and added it to the income under Section 68 via an order dated 28.12.2017 passed under Section 143(3). The ITAT order is related to this matter.
Financial details regarding the order are summarized below:
| Particulars | Details |
|---|---|
| Name of Authority | Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench |
| Nature of Action | Order against the Company, disallowing the appeal and demanding Rs. 4.14 cr. |
| Date of Order | March 16, 2026 |
| Date of Receipt | April 10, 2026 |
| Details of Violation | Issuance of unquoted shares by Shalby Surat Hospital Pvt. Ltd. (SSHPL) at a premium based on book value prior to demerger; Assessing Officer disallowed the premium and added it to income under Section 68 vide order dated 28.12.2017. |
Regarding the impact on the listed entity's operations, the company stated that as of the date, there is no implication on the financials, and measures are available to contest the matter at appropriate forums, including ITAT, with the company reasonably expecting the merits of the case to be in its favour.
SHALBY Stock Price Movement
On Friday, Shalby Limited stock rallied, settling at ₹153.89 after gaining 1.49% for the session. The equity traded on visible conviction, recording a total volume of 123,558 shares.Source:
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