MRF: Tax Demand Reduced to Nil for AY 2015-16 & 2016-17

MRF Ltd. announced updates on ongoing tax litigations. For Assessment Years 2015-16 and 2016-17, appeals were filed with the Income Tax Appellate Tribunal relating to disallowance of claims amounting to ₹89.62 crores and ₹92.46 crores respectively. The Income Tax Appellate Tribunal allowed the company's appeals, restoring remaining matters to the Assessing Officer for fresh verification. Consequently, the tax demand for both assessment years has been reduced to Nil.