RITES gets ₹38 crore tax relief after Gujarat authority order
In short
RITES got ₹38 crore relief after a Gujarat tax authority partly overturned a FY20 tax demand. The stock ended Thursday, October 1, at ₹209.70, up 0.17% on the BSE.
This may ease pressure on the company, but the reporting does not say how big the original demand was or whether more tax dispute remains.
What the reporting says
RITES received ₹38 crore relief after a Gujarat tax authority partially set aside a FY20 demand, according to the headline and summary provided. The reporting does not state the original tax amount, the grounds for the partial relief, or whether the company will face any remaining liability. A market note says RITES shares ended Thursday, October 1, at ₹209.70, up 0.17% on the BSE.
Why it matters
RITES has received ₹38 crore of relief after a Gujarat tax authority partially set aside a FY20 demand, based on the supplied headline and summary. The immediate market note says the stock finished Thursday, October 1, at ₹209.70, up ₹0.35 or 0.17% on the BSE. The available reporting does not state the original demand, the tax grounds, or any remaining exposure.