Tata Steel has received an income tax reassessment order for the financial year 2018-19, increasing its taxable income by over Rs 25,000 crore linked to a debt waiver after acquiring Bhushan Steel. The company has challenged the move in the Bombay High Court, citing technical issues. If upheld, this reassessment could significantly impact Tata Steel’s financials and stock sentiment in the near term. Investors should track legal developments closely.
Tata Steel: Faces Rs 25,000 Cr Tax Reassessment, Moves Bombay HC
The Tata Steel corporate building in Kolkata (Calcutta), West Bengal, India - as on 10 November 2005.