Tax dispute back in focus for Redington

K. S. Badri Narayanan | Updated on January 28, 2014 Published on January 28, 2014

Shares of Redington will be in focus after the Dispute Resolution Panel gave relief of about ₹19 crore in a tax dispute. However, the Panel upheld the Income Tax Department's view that the amount realised as a result of the transfer of its 100 per cent shareholding in Redington Gulf FZE to a step-down wholly owned subsidiary Redington International (Holdings) in 2008-09 without any consideration, is taxable. It had slapped a tax demand of ₹138 crore, excluding interest, on the company in April last year.

Published on January 28, 2014
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