Ashapura Minechem Limited — Others, 08-07-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Ashapura Minechem has announced a favorable tax order where the Income Tax Appellate Tribunal (ITAT) ruled that a Rs. 259.20 Cr adjustment disallowed earlier by the tax authorities is invalid. Consequently, the company’s total income for the 2019-20 year is now computed as nil, and business and depreciation losses of Rs. 259.20 Cr that were previously set off have been restored. These losses can now be carried forward and offset against future profits. Additionally, all other pending direct tax litigations have been settled, leaving the company free of income tax-related disputes, which reduces uncertainty for shareholders.