Carraro India Limited has informed the Exchange about Action(s) taken or orders passed
CARRARO · price
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Awaiting price reaction for this filing.
Carraro India has received a Final Assessment Order and Notice of Demand from the Income Tax Department's faceless assessment unit, dated April 11, 2025. The order involves tax additions of approximately Rs. 70.89 crore, with a Notice of Demand raised for Rs. 24.33 crore, linked to a prior transfer pricing assessment dated January 28, 2025. Importantly, the disputed amount was settled downwards compared to the initial show-cause notices issued in February and the draft order in March 2025. The company intends to file an appeal with the Commissioner of Income-tax (Appeals) and has stated it expects to receive favourable relief. Management has confirmed there is no immediate impact on the company's financial position, operations, or other activities.
This is a tax matter that the company plans to contest through appeal, and management expects a favourable outcome. The reduction from the earlier proposed additions is mildly positive, but until the appeal is resolved, Rs. 24.33 crore remains as a contingent tax liability. Shareholders should monitor appeal progress for any material cash outflow or write-off.