ZF Commercial Vehicle Control Systems India Ltd Wins ITAT Appeal

ZF Commercial Vehicle Control Systems India Ltd has received a favorable order from the Income Tax Appellate Tribunal (ITAT), Chennai Bench. The ITAT has allowed the company's appeal and set aside a tax demand of Rs. 1.17 crore for Assessment Year 2022-23. This demand was primarily related to transfer pricing adjustments and disallowance of scientific research expenditure, previously upheld by the National Faceless Assessment Unit. The company confirms there is no material impact on its financial position or operations.