Indus Towers shares rise 2% after ITAT ruling reduces Rs 3,500 crore contingent liability

Indus Towers' shares rose 2% after a favorable ruling from the Income Tax Appellate Tribunal (ITAT) on depreciation claims related to its merger with Bharti Infratel. The ITAT dismissed the tax department's objections, reducing the company's contingent liability by approximately ₹3,500 crore. This win allows Indus Towers to claim depreciation on merged assets, significantly improving its financial position.