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Shalby Ltd. ( (IN:SHALBY) ) has provided an update.
Shalby Limited has disclosed that the Income Tax Appellate Tribunal’s Ahmedabad Bench has ruled against the company in a tax matter linked to pre‑demerger transactions at Shalby Surat Hospital Pvt. Ltd. The tribunal has upheld a tax demand of Rs 4.14 crore after disallowing share premium issued on unquoted shares that had been valued on a book‑value basis.
The disputed premium had earlier been added to income under Section 68 following an assessment order under Section 143(3) in 2017, and the company’s appeal has now been rejected at the appellate level. Shalby stated that there is currently no impact on its financials and indicated it plans to contest the order further at appropriate forums, signaling that it expects the case’s merits to ultimately be decided in its favour.
More about Shalby Ltd.
Shalby Limited is an Indian healthcare company operating a network of hospitals, with a focus on specialty and multi-specialty medical services. The group has expanded through facilities such as Shalby Surat Hospital Pvt. Ltd., positioning itself as a regional player in organized healthcare services across key urban centers.
Average Trading Volume: 7,966
Technical Sentiment Signal: Sell
Current Market Cap: 16.58B INR
For detailed information about SHALBY stock, go to TipRanks’ Stock Analysis page.