Carraro India Limited has received a Final Assessment Order and Notice of Demand from the Income Tax Department, dated 8th April, 2026. This order, received on 8th April, 2026, at 02:45 p.m., settles a contention downwards compared to the previous Show-Cause Notice. The company was previously informed of a draft assessment order on 10th March, 2026, and a Show-Cause Notice on 13th February, 2026. The Final Assessment Order and Notice of Demand pertains to variations in the company's total income. Specifically, it addresses additions amounting to ₹61.73 crore related to a transfer pricing assessment order dated 22nd January, 2026, and other corporate tax adjustments of ₹52.61 lakh (down from an earlier proposed adjustment of ₹27.64 crore). A demand notice has been issued for ₹21.84 crore based on these additions. Carraro India Limited, based on legal advice, plans to file an appeal with the jurisdictional Commissioner of Income-tax (Appeals) within the prescribed timelines to contest the tax adjustments. The company believes it will receive a favorable outcome from the appellate forum. There is no immediate impact on the company's financial, operational, or other activities.
