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CRISIL Limited ( (IN:CRISIL) ) has issued an announcement.
Crisil Limited has disclosed that it received a re-assessment order under Section 147 for financial year 2016-17 related to its merged subsidiaries, even though their income had already been consolidated and offered to tax. While the Assessing Officer accepted that there was no escapement of income, an erroneous computation led to unwarranted additions, lack of credit for taxes already paid, and a demand of INR 121.20 crore.
The company stated there is no immediate impact on its financial, operational, or other activities, and it plans to file a rectification application and an appeal against the order. The disclosure signals that Crisil is actively contesting the tax demand, aiming to limit potential financial outflows and reassure stakeholders about the limited near-term effect on its balance sheet and ongoing business operations.
More about CRISIL Limited
Crisil Limited is a leading Indian provider of ratings, research, and risk and policy advisory services, operating in the financial services and capital markets ecosystem. The company’s offerings support banks, investors, corporates, and regulators with analytics and insights that underpin credit decisions, market assessments, and regulatory compliance across the domestic and global financial system.
Average Trading Volume: 4,969
Technical Sentiment Signal: Hold
Current Market Cap: 292.6B INR
See more data about CRISIL stock on TipRanks’ Stock Analysis page.