ZF CV India gets INR 1.17 cr tax demand for AY 2022-23, to appeal ITAT
ZFCVINDIA · price
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The Income Tax Department issued a final assessment order for Assessment Year 2022-23 against the company, raising a tax demand of INR 1.17 crores. The addition of INR 3.23 crore to total income arose from transfer pricing and scientific research expenditure adjustments. A show cause notice for penalty proceedings was also issued. The company plans to appeal before ITAT and states there is no material impact on its financials or operations.
Small tax demand of INR 1.17 cr; company appealing ITAT. No material impact claimed. Watch tribunal outcome.