Maruti Suzuki Challenges Rs 5,786 Crore Tax Order

Maruti Suzuki India challenges a draft assessment order of Rs 5,786.4 crore from the income tax authority, citing it as a routine issue. The carmaker plans to contest the order by filing objections before the dispute resolution panel. Maruti Suzuki's shares rose by 1.88% amid the announcement.

Maruti Suzuki India (MSI) is set to challenge a Rs 5,786.4 crore tax assessment order issued by the income tax authorities, claiming the order stems from routine interpretation issues.

The draft order, relating to the financial year 2022-23, suggests several additions and disallowances totaling Rs 57,864 million.

MSI plans to file objections with the dispute resolution panel, asserting no expected financial impact while the issue is processed. Meanwhile, Maruti Suzuki shares climbed 1.88%, closing at Rs 12,993.55 on the BSE.

(With inputs from agencies.)