Deputy Commissioner of Income-Tax Passes Order on Styrenix Performance Materials Ltd for AY 2013-14 Transfer Pricing Matter

Styrenix Performance Materials Ltd, formerly known as INEOS Styrolution India Ltd., has received an order from the Deputy Commissioner of Income-Tax regarding a transfer pricing matter for Assessment Year 2013-14. The order does not demand any tax as the addition to total income has been set off against brought-forward business losses. The company is considering filing an appeal before the Hon’ble Income Tax Appellate Tribunal. The order does not have a material impact on the financial position, operations, or other activities of the company.