ZF Commercial Vehicle Control Systems wins ITAT appeal, Rs 1.17 crore tax demand set aside
ZFCVINDIA · price
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ZF Commercial Vehicle Control Systems India received a favourable order from the Income Tax Appellate Tribunal (ITAT), Chennai for Assessment Year 2022-23. The tribunal allowed the company's appeal and fully set aside a tax demand of Rs 1.17 crore raised by the National Faceless Assessment Unit on transfer pricing adjustments and disallowance of scientific research expenditure. The company confirms no material financial impact on its operations.
Positive for shareholders. Rs 1.17 crore tax demand fully set aside, no financial hit to the company from this dispute.