Income Tax tribunal orders ₹13,000-crore tax relief to Maruti Suzuki
The Income Tax Appellate Tribunal has ruled in favor of Maruti Suzuki regarding tax disputes spanning eight financial years, resulting in approximately ₹13,000 crore in tax relief. The company expects to reduce its contingent liability by ₹6,300 crore as a result of the decision.
Why it matters
This significant tax relief improves the company's financial outlook and reduces long-standing legal uncertainty for one of India's largest automakers.
Income Tax tribunal orders ₹13,000-crore tax relief to Maruti Suzuki Mumbai Maruti Suzuki India informed the exchanges on Thursday that the Income Tax Appellate Tribunal (ITAT) had ruled largely in its favour in tax matters covering eight financial years, from FY2013-14 to FY2019-20 and FY2021-22. The order is expected to have a positive tax impact, including interest, of approximately ₹13,000 crore, the automaker said in an exchange filing. The company expects to reduce its contingent liability by about ₹6,300 crore, primarily through a reduction in the interest component.
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