Aczel Limited has secured a significant victory in its tax appeal, receiving a favorable order from the Income Tax Appellate Authority that will provide substantial financial relief to the company. The ruling pertains to Assessment Year 2018-19 and involves the allowance of Long Term Capital Loss set-off against capital gains.

Appellate Order Details

The Office of the Commissioner of Income Tax (Appeal), ADDL/JCIT (A)-5, Mumbai, passed an order under Section 250 of the Income Tax Act, 1961, dated March 13, 2026, in favor of the company. The order allows the appeal filed by Aczel Limited and deletes the disputed addition made by the Assessing Officer.

Nature of Tax Dispute

The original issue arose when the Assessing Officer (CPC) had disallowed the set-off of Long Term Capital Loss against Long Term Capital Gains in the intimation under Section 143(1) for AY 2018-19. The CPC treated the nil consideration as a mismatch in Schedule CG, leading to the disallowance of the capital loss set-off.

Financial Impact

The favorable order has a positive impact on the company's financials. The disputed addition of ₹7,38,33,247 has been completely deleted, resulting in an approximate tax benefit of ₹1.63 crores, calculated at LTCG rate of 20% plus applicable surcharge and cess. Importantly, no penalty or interest is involved in this order.

Regulatory Compliance

The company has disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as required for material events that could impact the listed entity. The disclosure was made on March 13, 2026, the same date as receiving the appellate order.

Accel Limited has disclosed another substantial acquisition by its promoter NR Panicker under SEBI regulations. The latest acquisition involves 23,926 equity shares purchased through open market transactions, demonstrating continued confidence by the company's promoter group in the company's prospects.

Latest Transaction Details

The recent share acquisition transaction presents the following key parameters:

Updated Shareholding Position

The latest acquisition has resulted in a further increase in the promoter's stake in the company. The current shareholding comparison shows:

Company Share Capital Structure

Accel Limited's equity share capital structure remains unchanged following the transaction:

The company's total voting capital and diluted share capital both stand at 5,75,72,401 equity shares, indicating no outstanding convertible instruments or warrants.

Regulatory Compliance

The disclosure was made pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Company Secretary Vishnu S filed the necessary documentation with BSE Limited, ensuring full regulatory compliance. The promoter NR Panicker, residing in Chennai, submitted the required disclosure format directly to both the stock exchange and the company.

Market Implications

This latest open market acquisition by the promoter demonstrates sustained commitment to the company. The transaction further strengthens the promoter's shareholding position while adhering to all regulatory disclosure requirements. The incremental increase in shareholding percentage reflects ongoing confidence in the company's prospects, with the promoter now holding 40.59% of the total equity shares.