If the company has not received any official communication then there is no question of hiding anything . The results are just ahead …it also makes sense for some to create panic and pick up in cheap .Also keep in mind that AMFI has just approved the largecap tag to Polycab so shuffling time too.Price action suggesting truth is like believing in mambo jumbo . I would believe it if there was no interview / source with inside knowledge of income tax demand and still the share fell the way it did . On the other hand it is true that valuations are somewhat high and a confirmation of the rumour may impact the stock further. But a demand does not mean IT department is right and company would surely challenge and it will take long time for the thing to clear up . All in all , testing time for fundamental investors conviction .
Disc : invested from 830 level onwards and 2nd largest position by present value. Have not sold because of this news …do not want to pay extra taxes 
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