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Infrastructure firm KNR Constructions Ltd on Monday (December 15) said it has received an income tax demand of ₹72.03 crore, including interest of ₹42.33 crore, for the assessment year 2007-08.
The company said the order was issued by the Assistant Commissioner of Income Tax, Central Circle-2(2), Hyderabad, and was received on December 13, 2025, at 9:15 pm. The demand is a consequential order arising from an Income Tax Appellate Tribunal decision.
The tax demand relates to alleged short-term capital gains on the sale of agricultural land during the financial year 2006-07.
Also Read: KNR Constructions wins LoA for ₹319-crore bridge project in Hyderabad
KNR Constructions stated that, based on the merits of the case and legal advice, it will file an appeal before the Telangana High Court against the ITAT order. The company added that it does not expect any material financial or operational impact at this stage.
"Based on the merits of the matter and advise of the counsel, the company shall be filing an appeal before the High Court of Telangana against the ITAT order, and accordingly, the company do not expect to have any material financial and operation impact at this point in time," it said.
The company also said that any material developments related to the matter will be disclosed to stock exchanges as required. Shares of KNR Constructions Ltd ended at ₹148.50, up by ₹2.80, or 1.92%, on the BSE.
Also Read: KNR Constructions Q2 net profit falls 76% YoY to ₹104.7 crore, revenue down 67%
The company said the order was issued by the Assistant Commissioner of Income Tax, Central Circle-2(2), Hyderabad, and was received on December 13, 2025, at 9:15 pm. The demand is a consequential order arising from an Income Tax Appellate Tribunal decision.
The tax demand relates to alleged short-term capital gains on the sale of agricultural land during the financial year 2006-07.
Also Read: KNR Constructions wins LoA for ₹319-crore bridge project in Hyderabad
KNR Constructions stated that, based on the merits of the case and legal advice, it will file an appeal before the Telangana High Court against the ITAT order. The company added that it does not expect any material financial or operational impact at this stage.
"Based on the merits of the matter and advise of the counsel, the company shall be filing an appeal before the High Court of Telangana against the ITAT order, and accordingly, the company do not expect to have any material financial and operation impact at this point in time," it said.
The company also said that any material developments related to the matter will be disclosed to stock exchanges as required. Shares of KNR Constructions Ltd ended at ₹148.50, up by ₹2.80, or 1.92%, on the BSE.
Also Read: KNR Constructions Q2 net profit falls 76% YoY to ₹104.7 crore, revenue down 67%
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