CARRARO: Carraro India Limited has informed the Exchange about receipt of favorable appellate orders dated 22nd August, 2025 from the Office of the Commissioner of Income-tax (Appeals), Pune 13
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Carraro India has won three tax appeals before the Commissioner of Income-tax (Appeals), Pune-13 for Assessment Years 2009-10, 2010-11, and 2016-17. The CIT(A) allowed the appeals and set aside cumulative tax demands of Rs. 27,87,82,661 (about Rs. 27.88 crore) raised by the lower tax authorities. The orders were received on 22nd and 23rd August 2025. Additionally, the company will receive a refund of Rs. 5,30,00,000 (Rs. 5.30 crore) that it had paid under protest when filing the appeals. This will reduce the company's contingent liabilities by the full relief amount.
Positive for shareholders — the company gets a Rs. 27.88 crore reduction in contingent tax liabilities and a Rs. 5.30 crore cash refund, strengthening its balance sheet and removing an overhang from past tax disputes.