Carraro India Receives Transfer Pricing Order, Appeals Filed
Carraro India received a transfer pricing assessment order for AY 2023-24, proposing an additional tax liability of ₹15.54 crore. The company is appealing the order and has also applied for an Advance Pricing Agreement. No immediate financial or operational impact is expected.
The proposed additional income-tax liability of ₹15.54 crore is a material amount. While the company states no immediate impact, the pending appeal and APA process introduce financial uncertainty and potential future costs.
The company received an unfavorable assessment order from the Income Tax Authority, which could lead to a significant additional tax liability. Although the company plans to appeal and seek alternative dispute resolution, the initial order is negative.
Carraro India Limited has received an assessment order from the Office of the Assistant Commissioner of Income Tax, Transfer Pricing (TPO) for the assessment year 2023-24. The order, received on 22nd January 2026, modifies the company's transfer pricing submissions and benchmarking approach. The TPO has proposed an adjustment to the value of international transactions with overseas related parties, potentially leading to an additional income-tax liability of ₹15.54 crore.
The company disagrees with the TPO's findings, citing a disregard for its justifications and arbitrary application of methods without adequate opportunity to be heard. Carraro India intends to file an appeal against this order before the Commissioner of Income-tax Appeals (CIT(A)).
As an alternative dispute resolution, the company has also filed an application with the Advance Pricing Agreement (APA) authorities for the year under consideration. Carraro India is hopeful of receiving relief from the entire transfer pricing adjustment. The company states there is no immediate impact on its financial, operational, or other activities.
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Carraro India Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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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.