DCM Shriram Ltd: ITAT Grants Relief in AY 2022-23 Tax Litigation

DCM Shriram Ltd has received an order from the Income-tax Appellate Tribunal (ITAT), New Delhi, for Assessment Year 2022-23. The ITAT has granted relief on additions made by the Assessing Officer (AO), reducing the tax effect of additions from ₹178.24 Crores to ₹172.82 Crores, with a net relief of ₹5.42 Crores. Additionally, the ITAT directed the AO to correct computational errors, including the set-off of brought forward MAT Credit. The company plans to file an application with the AO to give effect to the ITAT's directions and delete the previously raised demand of ₹249.27 Crore.