Ponni Sugars Receives Interim Order from Madras High Court

Ponni Sugars (Erode) Ltd. has received an interim order dated April 27, 2026, from the Hon'ble High Court of Madras regarding a Writ Petition filed by the company against an order by the Commissioner of Income Tax (Transfer Pricing) (CIT-TP). The High Court directed the Transfer Pricing Officer (TPO) to pass appropriate orders pursuant to the CIT-TP order dated March 27, 2026, but specified that the effect of the TPO's order will be subject to the final outcome of the Writ Petition and without prejudice to the company's rights. The litigation concerns the determination of the Arm's Length Price (ALP) of inter-unit transfer of bagasse for AY 2021-22.