New Delhi, July 14 -- Shares of Castrol India rallied nearly 6 percent on July 14 after the company secured a major legal victory in a Rs.4,131 crore tax dispute with the Maharashtra Sales Tax Department (MSTD). The Customs Excise & Service Tax Appellate Tribunal (CESTAT) ruled in favour of the lubricant manufacturer, rejecting the department's appeals for the disputed period spanning over a decade.

In an exchange filing dated July 11, Castrol India informed investors that CESTAT had ruled in the company's favour, dismissing the appeals made by MSTD for the tax assessment years from 2007-08 to 2015-16 and for 2017-18. The ruling ends a protracted legal battle involving allegations of inter-state sales conducted through Clearing and Forwa...