Abacus Real Estate, a wholly owned subsidiary of Kalpataru Ltd , has received an order from the Commissioner of Income Tax (Appeal), Mumbai, regarding the Assessment Year 2013-14. The order sustains additions to the income made by the Income Tax Officer, resulting in a net tax demand of Rs 9.20 crore. The subsidiary had filed an appeal against an assessment order that originally made an addition to the income, leading to a tax demand including interest of Rs 15.44 crore.

Order Details

The CIT(A) dismissed the appeal filed by Abacus Real Estate. The net tax demand of Rs 9.20 crore is calculated after deducting the amount already paid, which was Rs 6.24 crore, from the total tax demand of Rs 15.44 crore. The original assessment order for the Assessment Year 2013-14 had resulted in the initial tax demand.

Future Action

Abacus Real Estate intends to contest the order or file an appeal in accordance with the applicable provisions of the Income Tax Act. The subsidiary expressed hope for a favorable outcome. Kalpataru Ltd stated that the order does not have any material financial impact on its operations.

The company received information regarding the receipt of the order by its subsidiary at 3:45 p.m. on July 3, 2026. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kalpataru Properties (Thane) Ltd, a wholly owned subsidiary of Kalpataru , filed appeals with the GST Appellate Tribunal on June 17, 2026, challenging tax demands totaling Rs 443.18 lacs for FY 2017-18. The appeals address orders passed by the Deputy Commissioner of State Tax on January 30, 2026, and the Additional Commissioner on August 18, 2025. The demands relate to the alleged wrongful availment of transitional credit on inputs used in the construction of immovable property by Arimas Developers Private Ltd, which has since merged with the subsidiary.

The orders specifically demanded GST of Rs 396.49 lacs and Rs 46.69 lacs. The subsidiary has expressed hope for a favorable outcome from the tribunal proceedings. The disclosure was made to the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Tax Demands

The appeals concern the period FY 2017-18 and involve Arimas Developers Private Ltd, an entity merged with Kalpataru Properties (Thane) Ltd. The dispute centers on the classification of inputs contained in semi-finished goods used for construction.