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KNR Constructions Limited ( (IN:KNRCON) ) has provided an update.
KNR Constructions Limited has received favourable orders from the Commissioner of Income Tax (Appeals) – 12, Hyderabad, for assessment years 2017-18 to 2020-21, allowing the company’s appeals against earlier disallowances made by the Assessing Officer. The earlier tax demands had arisen from disallowances of deductions claimed under Section 80-IA of the Income Tax Act and an arbitration claim related to one of its projects, and the appellate orders now support the company’s position. KNR Constructions is awaiting consequential orders from the Assessing Officer to implement the appellate decisions, and therefore the exact financial and operational impact cannot yet be quantified, though the outcome is potentially positive for the company’s tax liabilities and cash flows and will be closely watched by investors and other stakeholders.
More about KNR Constructions Limited
KNR Constructions Limited is an Indian infrastructure and construction company based in Hyderabad, operating primarily in the engineering, procurement and construction (EPC) space with a focus on roads, highways and related civil works across the country. The company is listed on both BSE and NSE and caters mainly to public sector and government-backed infrastructure projects, positioning itself as a key player in the transportation infrastructure segment.
Average Trading Volume: 142,317
Technical Sentiment Signal: Sell
Current Market Cap: 46.99B INR
See more insights into KNRCON stock on TipRanks’ Stock Analysis page.