Deepak Fertilisers wins dismissal of tax department appeals over ₹215 crore dispute
The ITAT in Mumbai dismissed the tax department's appeals covering 2013-14 to 2018-19, leaving earlier relief for Deepak Fertilisers in place, per TradingView.
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what happened
Deepak Fertilisers and Petrochemicals Corporation (DFPCL) has won a ruling from the Income Tax Appellate Tribunal in Mumbai, which threw out the Income Tax Department's challenges. The disputed amount, ₹215 crore of taxable income, spanned six tax years from 2013-14 through 2018-19, according to TradingView. The tribunal upheld the earlier decision of the Commissioner of Income Tax (Appeals) in Mumbai, dated January 8, 2026.
The company disclosed the outcome in a regulatory filing on Saturday, November 14, saying the notice reached it by email at 1:10 p.m. on November 13. Separately, the tribunal partly accepted DFPCL's appeals for 2015-16 and 2016-17, though only on certain issues and for statistical purposes, the filing noted.
The ruling landed a day after the company reported second-quarter FY27 consolidated net profit up 84.7% year on year to ₹393.8 crore, with revenue climbing 10.9% to ₹3,334 crore.
why it matters
For markets this is a company-specific story with limited reach, since it does not change the group's operating numbers. Still, it removes a six-year tax overhang. The shares finished nearly unchanged at ₹1,260 on Friday and are down roughly 11% over the trailing 12 months.
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- Deepak Fertilisers gets relief in ₹215 crore tax case; ITAT dismisses department's appeals — TradingView, 14 November 2026 at 09:12 UTC
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