AXISCADES Technologies Limited announced a significant development in an ongoing litigation concerning its wholly-owned subsidiary, AXISCADES Aerospace & Technologies Private Limited. Previously, on July 20, 2023, the company had intimated a Stay Order from the Hon’ble High Court of Karnataka regarding proceedings initiated by the Income Tax Department for the fiscal year 2014-15.

These proceedings, initiated under Section 147, read with Sections 144 and 144B of the Income Tax Act, pertained to the admissibility of capital loss in the income tax returns for the said fiscal year. Following this, the Hon’ble High Court of Karnataka at Bengaluru, via an Order dated November 04, 2025, has quashed the impugned notice, demand notice, and penalty notice, along with all consequential orders and notices dated May 22, 2023, issued by the Income Tax Department. This development is a favorable outcome for the company and its subsidiary.