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.

The Deputy Commissioner of Income Tax (DCIT) has filed an appeal with the Income Tax Appellate Tribunal (ITAT) against Kalpataru Limited for the Assessment Year 2022-23. The appeal challenges an order passed by the Commissioner of Income Tax (Appeals) under Section 250 of the Income Tax Act, 1961, which had granted partial relief to the company involving a tax impact of ₹237.68 lacs, excluding applicable interest.

Kalpataru Limited received intimation regarding the filing of this appeal on June 17, 2026, at 5:15 p.m. The company stated that it intends to defend the appeal and remains hopeful of a favorable outcome. The appeal was filed by the DCIT under Section 253 of the Income Tax Act, 1961.

In a previous disclosure dated March 25, 2026, the company informed the exchanges that the CIT(A) had issued orders for assessment years 2019-20, 2020-21, 2021-22, 2022-23, and 2023-24. The recent filing specifically targets the relief granted for the Assessment Year 2022-23.

The disclosure was made to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information was simultaneously disseminated on the company's website.