Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 505

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 8
Chunk 505
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 Section 382 of the Internal Revenue Code of
1986 and similar state provisions. The annual limitation may result in the expiration of net operating losses before utilization.

The
Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates and is subject to examination by federal,
state, and local jurisdictions, where applicable.

As
of June 30, 2025, tax years beginning in fiscal 2021 and 2020 remain open to examination by the federal and state tax jurisdictions,
respectively, and are subject to the statute of limitations.

Uncertain
Tax Positions

The
Company regularly evaluates the likelihood of realizing the benefit from income tax positions that it has taken in various federal, state,
and foreign filings by considering all relevant facts, circumstances and information available. If the Company determines it is more
likely than not that the position will be sustained, a benefit will be recognized at the largest amount that it believes is cumulatively
greater than 50% likely to be realized. The following table summarizes changes in the amount of the Company’s unrecognized tax
benefits for uncertain tax positions:

SCHEDULE
OF UNCERTAIN TAX POSITIONS

    Unrecognized Tax Benefits at June 30, 2024 
    $1,665,000 
  
    Increase in tax positions taken 
     - 
  
    Decrease in tax positions taken 
     - 
  
    Unrecognized Tax Benefits at June 30, 2025 
    $1,665,000 

As
of June 30, 2025 and June 30, 2024, the Company had unrecognized tax benefits, which would affect the effective tax rate if recognized.
The unrecognized tax benefit are not expected to reverse within the next 12 months. Interest and penalties related to income tax matters
are classified as a component of income tax expense. As of June 30, 2025 and June 30, 2024, no interest and penalties were recorded.

NOTE
14 – SEGMENT INFORMATION

The
Company operates in three reportable segments: (i) Hotel Operations (“the Hilton San Francisco District and its five-level parking
garage), (ii) Real Estate Operations (the multifamily and commercial rental portfolio), and (iii) Investment Transactions (investment
of cash in marketable securities and other investments). CODM is a group of senior executives who collectively use these segments to
evaluate performance and allocates resources.

Segment
results are evaluated using segment income (loss) from operations