News Stocks Neptune Logitek Limited Receives Major Relief in Income Tax Appeal, Demand Reduced from Rs. 38.33 Crore to Rs. 63,751Neptune Logitek Limited Receives Major Relief in Income Tax Appeal, Demand Reduced from Rs. 38.33 Crore to Rs. 63,751
Neptune Logitek Limited has received substantial relief in its income tax appeal, with the Commissioner (Appeals) reducing the tax demand from Rs. 38,33,83,869 to just Rs. 63,751. The appellate order dated January 27, 2026, deleted additional income of Rs. 38,33,20,118 from the original assessment for FY 2012-13, eliminating the company's tax and interest liability of Rs. 27,62,34,090. The company stated there will be no significant financial impact due to this favorable outcome.
*this image is generated using AI for illustrative purposes only.
Neptune Logitek Limited has announced a significant victory in its income tax appeal, with the Commissioner (Appeals) substantially reducing the company's tax demand from Rs. 38.33 crore to merely Rs. 63,751. The appellate order, received on January 28, 2026, provides major financial relief to the logistics company.
Background of the Tax Assessment
The company had initially received an assessment order for Financial Year 2012-13 (Assessment Year 2013-14) dated May 15, 2023, passed by the Income-tax Department under Section 147 of the Income-tax Act, 1961. The original assessment had determined additional taxable income of Rs. 38,33,83,869, on which the tax and interest payable by the company was calculated at Rs. 27,62,34,090.
Appellate Order Details
The Commissioner (Appeals) passed the appellate order under Section 250 of the Income-tax Act, 1961, on January 27, 2026. The order brought substantial relief to Neptune Logitek Limited by deleting the additional income to the extent of Rs. 38,33,20,118 out of the total addition made of Rs. 38,33,83,869.
| Parameter | Amount (Rs.) |
|---|---|
| Original Gross Demand | 38,33,83,869 |
| Amount Ordered to Drop | 38,33,20,118 |
| Final Amount to Recover | 63,751 |
| Original Tax & Interest Liability | 27,62,34,090 |
| Current Tax & Interest Payable | Nil |
Financial Impact Assessment
According to the company's disclosure, there will be no significant impact on the financials as the order has been passed substantially in their favor. The company stated that there is no tax or interest payable as per the appellate order received. Only interest under section 234B and penalty proceedings on the sustained amount of Rs. 63,751 will be dealt with in accordance with law.
Regulatory Compliance
Neptune Logitek Limited made this disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive details as required under sub-para 20 of Para A of Part A of Schedule III of SEBI Listing Regulations, including the nature of actions taken, dates of receipt of orders, and the financial impact assessment.
Order Specifications
The appellate order was issued under order number ITBA/NFAC/S/250/2025-26/1085162414(1). The appeal was filed against the order of NFAC, Delhi (AO), and the favorable outcome represents a significant legal and financial victory for the company. The Commissioner confirmed that the balance amount beyond Rs. 63,751 has been deleted, with interest and penalty proceedings to be handled consequentially according to law.
17
