Vaibhav Global Limited has informed the Exchange regarding Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
VAIBHAVGBL · price
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Vaibhav Global has received a draft assessment order from the Income Tax Department under Section 144C of the Income Tax Act for Assessment Year 2022-23. The order proposes adjustments of about Rs. 2,048.66 million (roughly ₹204.9 crore) on transfer pricing issues. The company plans to file objections before the Dispute Resolution Panel (DRP). Importantly, management notes it has previously won similar transfer pricing disputes at ITAT (Income Tax Appellate Tribunal) and does not expect any material financial impact. No penalty or sanction has been imposed at this stage as it is only a draft order.
Although the proposed tax adjustment looks large (~₹205 crore), this is just a draft order and the company has a history of successfully challenging similar transfer pricing claims. Shareholders should monitor DRP proceedings, but near-term impact on earnings or stock price is expected to be limited unless the final order goes against the company.