HCL Infosystems

HCL Infosystems won an appeal before CESTAT, Allahabad, which set aside a ₹16.67 crore service-tax demand, along with applicable interest and equivalent penalty, relating to royalty paid outside India. The order concerned a demand confirmed under Section 73 of the Finance Act, 1994, and the department retained the right to appeal. On 11 August, CESTAT had set aside a separate ₹22.85 crore service-tax demand in another case involving HCL Infosystems. The company reported consolidated operating revenue of ₹21.61 crore and a loss of ₹32.91 crore for FY26.

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HCL Infosystems won an appeal before the Customs, Excise and Service Tax Appellate Tribunal in Allahabad, which set aside a ₹22.85 crore service-tax demand against the company. The demand, confirmed in a July 2017 order by the Noida tax commissionerate, also carried applicable interest and an equivalent penalty. The department retained the right to appeal the tribunal's order before a higher forum. HCL Infosystems reported consolidated operating revenue of ₹21.61 crore and a loss of ₹32.91 crore for FY26. Its current liabilities exceeded current assets by ₹48.37 crore at the year-end, and promoter-funded NCDs formed part of its funding structure.

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Aug 11 (Reuters) - HCL Infosystems Ltd HCLI.NS:

• HCL INFOSYSTEMS - COURT ALLOWS HCL INFOSYSTEMS APPEAL AND SETS ASIDE JULY 2017 ORDER

• HCL INFOSYSTEMS - TAX DEMAND OF 228.5 MILLION RUPEES WITH INTEREST AND PENALTY SET ASIDE

Source text: ID:nBSE4TLWgh

Further company coverage: HCLI.NS

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HCL Infosystems announced that the Supreme Court has dismissed a Special Leave Petition filed by the Income Tax Department, finally upholding the company's treatment of Rs.60.80 crores received from Hewlett Packard in 1997-98 as a non-taxable capital receipt. The department had demanded Rs.14.90 crores in tax, treating the JV termination compensation as capital gain. After successive wins at the Income Tax Appellate Tribunal and the Delhi High Court, the Supreme Court's rejection of the department's appeal closes the matter permanently. The company received the order on 15 July 2026 and disclosed the details to the exchanges, confirming that the demand stands dismissed with no financial liability.

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HCL Infosystems informed exchanges that the Principal Commissioner, Central Goods and Services Tax, Noida, has filed an appeal before the Allahabad High Court challenging a favourable CESTAT order that had quashed a tax demand of Rs 312.34 crore along with interest and penalty. The original demand had been issued under CENVAT Credit Rules. The company said the matter is at the admission stage, no interim order has been passed, and it continues to believe it has a strong case on merits. There is no additional financial impact at present, though the appeal revives a significant contingent liability.

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May 5 (Reuters) - HCL Infosystems Ltd HCLI.NS:

• HCL INFOSYSTEMS LTD - RECEIVES 263.5 MILLION RUPEES VAT REFUND FOR TAX PERIODS 2009-10 AND 2011-12

Source text: ID:nBSE6t73m3

Further company coverage: HCLI.NS

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** Shares of HCL Infosystems HCLI.NS rise 2% to 15.3 rupees

** Co receives final arbitration award worth 1.02 bln rupees ($11.49 million) against Unique Identification Authority of India (UIDAI), including 10% annual interest till its recovery

** UIDAI’s counterclaims of 727.1 mln rupees disallowed

** Stock up 0.7% YTD

($1 = 88.7780 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

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April 3 (Reuters) - HCL Infosystems Ltd HCLI.NS:

• HCL INFOSYSTEMS LTD - GETS FINAL ARBITRATION AWARD, IN ARBITRATION FILED BY CO AGAINST GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI

• HCL INFOSYSTEMS LTD - MONETARY RELIEF AWARDED IN FAVOUR OF CO IS 45 MILLION RUPEES

• HCL INFOSYSTEMS LTD - COUNTER CLAIMS WORTH 1.63 BILLION RUPEES FILED BY GNCTD AGAINST CO HAVE BEEN DISALLOWED

Source text for Eikon: ID:nBSE4rysh5

Further company coverage: HCLI.NS

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