DIC India Limited Receives Directions from Dispute Resolution Panel on Tax Matter
DIC India Limited received directions from the Dispute Resolution Panel (DRP) regarding transfer pricing adjustments for FY 2022-23. The DRP did not accept most of the company's objections and directed the AO to finalize the order. The company awaits the final assessment order and states no financial impact as of date.
The announcement pertains to tax litigation involving transfer pricing adjustments. While the immediate financial impact is stated as none, the outcome of the final assessment order could have significant financial implications for the company. The DRP's decision to not accept most objections indicates a potential financial exposure.
The company has received directions from the DRP, which did not fully accept its objections. While the company is evaluating further actions, the immediate financial impact is stated as none. This situation is neutral as it is a procedural step in a tax matter with an uncertain final outcome.
DIC India Limited has received directions from the Dispute Resolution Panel (DRP)-2, New Delhi, under section 144C(5) of the Income-tax Act, 1961. These directions are in connection with the draft assessment order passed by the Assessing Officer (AO) concerning transfer pricing adjustments for FY 2022-23 (AY 2023-24). The company had filed objections against the AO's order, but the DRP did not accept most of these objections and has directed the AO to incorporate its findings into the final order.
The DRP directions were dated September 30, 2026, and were received by the Key Managerial Personnel (KMPs) on October 01, 2026, at 12:05 PM. The company is awaiting the final assessment order from the AO, after which it will evaluate the order and take appropriate action. As of the current date, there is no financial or other impact on the company, as the final order is yet to be received. The matter involves transfer pricing adjustments amounting to ₹3,84,17,653 for the Assessment Year 2023-24, and the DRP's directions have been issued pursuant to the company's application before the panel.
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