Rane (Madras) Limited received an income tax assessment order dated March 27, 2026 levying a tax demand of ₹3.12 crores for AY 2023-24.
Authority disallowed ₹10.37 crores trademark fee paid to Rane Holdings Limited and made ₹2.60 crores SBLC commission transfer pricing adjustment.
Penalty proceedings separately initiated under Section 274 read with Section 270A; company plans to contest the order before appropriate authority.