MRF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
MRF Limited filed a disclosure under SEBI Regulation 30 regarding two income tax disputes. For Assessment Year 2015-16 involving Rs. 89.62 crores, the Income Tax Appellate Tribunal (ITAT) allowed the company's appeal on major grounds and restored remaining matters to the Assessing Officer for verification, reducing the tax demand to Nil. Similarly, for Assessment Year 2016-17 involving Rs. 92.46 crores, the ITAT ruled in favor of MRF, with the tax demand also reduced to Nil. Both disputes originated in 2024 with the Deputy Commissioner of Income-Tax, Central Circle 3(3), Chennai. No key management personnel or promoters were involved in these litigations, and no settlements were involved.
The resolution of both tax disputes in MRF's favor with tax demands reduced to Nil is a positive development, removing potential financial liabilities and uncertainty from the company's books.