Carraro India Ltd receives favourable appellate order, tax demand of ₹6.48 Crore set aside.
Carraro India Limited received a favorable appellate order from the CIT(A), Pune, on January 16, 2026. The order grants complete relief from a tax demand of ₹6.48 Crore for AY 2018-19. The company will also receive a tax refund of ₹1.10 Crore, reducing contingent liabilities.
The resolution of a significant tax demand and the potential for a tax refund will positively impact the company's financial standing and contingent liabilities.
The company received a favorable order from the tax authorities, leading to a significant reduction in tax demand and an expected tax refund.
Carraro India Limited has received a favorable appellate order dated January 16, 2026, from the Commissioner of Income-tax (Appeals), Pune – 13. This order pertains to the Assessment Year 2018-19 and grants complete relief from the tax demands previously raised by lower tax authorities.
The company was informed of this development on January 19, 2026. The appellate order effectively sets aside a tax demand of ₹6,48,25,600 (Rupees Six Crore Forty-Eight Lakh Twenty-five Thousand Six Hundred). Furthermore, Carraro India Limited is slated to receive a tax refund of ₹1,10,31,000 (Rupees One Crore Ten Lakh Thirty-one Thousand), which had been paid under protest during the appeal process.
This outcome is expected to reduce the company's contingent liabilities by the granted tax relief amount. The details were provided in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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See the model portfoliosA plain-language summary of a public exchange filing by Carraro India Limited. Read the original for the full detail.