Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest announcement is out from Websol Energy System Limited ( (IN:WEBELSOLAR) ).
Websol Energy System Limited has disclosed that the Commissioner of Income Tax (Appeals), Kolkata has ruled in its favour regarding a significant tax dispute for the assessment year 2017-18. The original assessment order had included additions of Rs 184.99 crore under Section 115JB of the Income-tax Act and disallowed expenses of Rs 1.51 crore under normal provisions, resulting in a tax demand of Rs 73.04 crore, which the company had treated as a contingent liability. Following Websol’s appeal, the appellate authority has now set aside this demand, meaning the Rs 73.04 crore will no longer be payable, removing a major contingent liability from the company’s books and potentially strengthening its financial position and clarity for shareholders and other stakeholders.
More about Websol Energy System Limited
Websol Energy System Limited is an Indian-listed company operating in the solar energy sector, with its shares traded on both the National Stock Exchange of India and BSE under the scrip codes WEBELSOLAR and 517498 respectively. The company is part of the renewable energy industry, focusing on photovoltaic products and related solar power solutions for domestic and international markets.
Average Trading Volume: 527,552
Technical Sentiment Signal: Hold
Current Market Cap: 35.56B INR
Learn more about WEBELSOLAR stock on TipRanks’ Stock Analysis page.