Carraro India Limited has informed the Exchange about Initial Show Cause Notice dated 12th February, 2026 received from Income Tax Department.
CARRARO · price
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Carraro India has received an Initial Show Cause Notice from the Income Tax Department dated 12th February 2026, for Assessment Year 2023-24. The notice proposes additions of Rs. 89.37 crore to the company's total income, mainly on two grounds: a transfer pricing assessment order dated 22nd January 2026 and adhoc disallowance of certain expenditures. The company says it will file a detailed reply with factual evidence and legal justification within the prescribed timeline. The company also believes, based on legal advice, that it will receive favourable relief.
There is no immediate impact on the company's financial position or operations. However, if the tax department's proposed additions are upheld after the adjudication process, it could translate into a potential additional tax liability of around Rs. 89 crore. Investors should monitor the outcome of the company's reply and any subsequent order.