CG Power (CGPOWER) faces an increased tax dispute.
The Income Tax Department issued a revisionary order for Assessment Year 2022-23, adding a **Rs. 21.43 Cr disallowance** for unabsorbed depreciation loss. **The Issue:** This new disallowance comes on top of an existing disputed tax demand of **Rs. 188.79 Cr** for the same year, which the company had already appealed.
Total disputed amount for AY22-23 now stands at **Rs. 236.74 Cr**. **Impact:** This could lead to a higher tax outflow if the company's appeals are unsuccessful. **Company's Response:** CG Power is evaluating the new order and plans to file an appeal.
The company believes it has a "fair chance of succeeding" and expects these disallowances to be reversed.
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