CG Power Gets Partial Relief On ₹2.48-Billion Tax Demand

CG Power said it has received partial relief from the Income Tax Department, which has directed the company to deposit ₹20 million while granting a stay on the remaining tax demand of ₹2.48 billion. The stay will remain in effect until the disposal of the company’s appeal before the Commissioner of Income Tax (Appeals), the company said in an exchange filing.

This follows an earlier order received by CG Power on Feb 28, 2025, from the tax authorities, for the assessment years 2015-16, 2016-17, 2017-18 and 2019-20, where the department had raised a demand totalling ₹2.48 billion.

The company filed an appeal on Mar 27, 2025, challenging the additions and disallowances. Simultaneously, CG Power also filed an application for a stay on the demand, which was accepted by the Assistant Commissioner of Income Tax, Mumbai, through an order dated Apr 9, 2025.

There is no litigation involving key management personnel, promoters or controlling persons related to this matter, and no settlement terms apply as of now, the company further clarified. 

At 14:00 IST, shares of CG Power were at ₹571.50, up 4% from its Wednesday’s close.