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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Span Divergent Ltd-$

Span Divergent Ltd. Order Quashed for Rs. 64,14,963 Additions

REGULATORY ▲ Positive Development LOW RISK
📅 Filed on BSE: 05 Nov 2026, 07:48 PM IST  ·  BSE ID: 2f2e4541-b136-460a-bb62-6510991cefda
View Original BSE Filing (PDF)
💡
In Simple Terms
The company won an appeal against an income tax assessment, with additions of over ₹64 Lakhs being cancelled.
🤖 AI Summary
  • Span Divergent received an appellate order quashing assessment order for AY 2016-17.
  • Disallowances totaling ₹64,14,963 were quashed by the CIT(A)-12, Ahmedabad.
  • Additions included ₹62,67,024 for CENVAT Credit written off.
  • The consequential tax demand of ₹28,94,598 will be adjusted.
🔢 Key Numbers - exact figures from BSE filing, not rounded
Total Disallowances Quashed
₹64,14,963
CENVAT Credit Written Off
₹62,67,024
Employees' Provident Fund Contribution
₹1,47,939
Consequential Tax Demand Adjustment
₹28,94,598
Assessment Year
2016-17
🏢 How This Affects the Company
💰
Financial Impact
The company received relief by quashing assessment order additions of ₹64,14,963. The tax demand of ₹28,94,598 will be adjusted as per tax procedures.
⚙️
Operational Impact
No operational impact is stated.
👥 What This Means For Shareholders
✅
Action Required
No specific action is required from shareholders.
👤
Who Is Affected
All shareholders are affected by the potential reduction in tax liability.
🔍
Management Signal
Management pursued and successfully resolved a significant tax assessment appeal, demonstrating proactive engagement with tax authorities.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List - track these upcoming events
Confirmation of tax demand adjustment.
Subsequent tax filings for AY 2016-17.
Any further updates on tax litigation.
LOW RISK Favourable appellate order resolves past tax assessment, reducing uncertainty.
💡 Investor Takeaway
Span Divergent Limited's appeal resulted in ₹64,14,963 of tax additions being quashed for AY 2016-17, with a consequential adjustment to a tax demand of ₹28,94,598.
⚖️ Strengths & Concerns

✅ Positives

  • Appellate order quashed assessment proceedings due to lack of incriminating material.

⚠️ Concerns

  • Original assessment order date was February 22, 2024.
  • Disallowances included ₹1,47,939 towards Employees' Provident Fund contribution.
❓ Frequently Asked Questions
What was the outcome of Span Divergent's appeal for Assessment Year 2016-17?
The Commissioner of Income Tax (Appeals) quashed the assessment order for AY 2016-17, holding proceedings unsustainable without incriminating material.
What were the total disallowances quashed by the CIT(A) in Span Divergent's appeal?
Total disallowances aggregating to ₹64,14,963 were quashed, including ₹62,67,024 for CENVAT Credit written off.
What is the financial impact of the appellate order on Span Divergent?
The order quashes ₹64,14,963 in additions and will result in an adjustment to the tax demand of ₹28,94,598.
Which income tax authority passed the appellate order for Span Divergent?
The appellate order was passed by the Commissioner of Income Tax (Appeals)-12, Ahmedabad.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only - Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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