Tax & Penalty11 Jun 2026, 04:41 pm
Styrenix Performance Materials Wins ITAT Appeal, ₹17.11 Cr Additions Deleted
AI Summary
Styrenix Performance Materials Ltd has received a favorable order from the Income Tax Appellate Tribunal (ITAT), Ahmedabad. The ITAT has allowed the company's appeal and deleted transfer pricing additions amounting to INR 17,11,13,551 for Assessment Year 2021-22. Consequently, the associated tax demand of INR 4.38 crores has also been withdrawn. This ruling positively impacts the company's financial standing by removing a significant potential liability.
Key Highlights
- ITAT Ahmedabad allows Styrenix's appeal, deleting transfer pricing additions.
- Transfer pricing additions of INR 17.11 Cr for AY 2021-22 are deleted.
- Corresponding tax demand of INR 4.38 Cr is also deleted.
- The ruling has a positive financial impact on the company.
Price Impact
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