Polycab India expects substantial cut in income tax demand

Polycab India Limited informed stock exchanges on August 31, 2025, about receiving orders from the Commissioner of Income Tax (Appeals) [CIT(A)] for the Assessment Years 2014-15 to 2023-24 (FY 2013-14 to FY 2022-23). These orders were issued in response to appeals filed by the company against earlier orders that included certain additions/disallowances. The CIT(A) has accepted the majority of the grounds of appeal raised by Polycab India.

This decision follows previous intimations on December 22, 2023, January 30, 2025, and April 1, 2025. The company, in consultation with its tax advisors, plans to file an application with the assessing officer to ensure that the orders comply with the CIT(A)'s directions.

Polycab India anticipates that the effectuation of the CIT(A) orders by the assessing officer will lead to a substantial reduction in the previously disclosed income tax demand. This development is expected to positively impact the company's financial position by alleviating a portion of its tax obligations.