New Delhi, March 17 Maruti Suzuki India (MSI) said on Tuesday that it has received a draft assessment order worth Rs 5,786.4 crore from the income tax authority, and the company will challenge the order.
"The company has received a Draft Assessment Order for FY 2022 – 23, in which certain additions/disallowances amounting to Rs 57,864 million with respect to the returned income have been proposed," the automaker said in a BSE filing.
MSI will file its objections before the dispute resolution panel, it stated.
When contacted about the issue, MSI Senior Executive Officer (Corporate Affairs) Rahul Bharti said: "The draft income tax assessment order about which the company has informed the stock exchanges is a routine matter. Such orders arise from time to time, largely due to interpretation issues."
"In the company's assessment, there is no financial impact, and the matter will be handled through the usual process," he added.
Maruti Suzuki shares closed at Rs 12,993.55 per share, up 1.88 per cent on BSE.