DCM Shriram Faces ₹35.83 Cr Tax Appeal on Transfer Pricing

DCM Shriram Ltd has received a notice regarding a material tax litigation concerning the Assessment Year 2016-17 (Financial Year 2015-16). The Income Tax Appellate Tribunal (ITAT) had previously ruled in favor of the company on transfer pricing adjustments for specified domestic transactions. However, the Principal Commissioner of Income Tax 1, New Delhi, has filed an appeal before the Delhi High Court against the ITAT's order. The appeal involves a tax effect of ₹35.83 crore. The company notes that a similar issue for AY 2014-15 was decided in its favor by the Delhi High Court. The matter is currently listed for hearing.