Hindustan Unilever Gets $224M Income Tax Demand Order for FY21

Hindustan Unilever has received an assessment order from the Income Tax Department with a demand for 19.9 billion rupees ($224 million), according to an exchange filing dated Oct. 31.

• The order for the FY21 period from the Mumbai office of the Income Tax Department cites:
  • “The Tax authorities have made transfer pricing adjustments in the nature of disallowance of payments to related parties or challenged the valuation of such related party payments and corporate tax disallowances in the nature of depreciation claimed,” the company said
• Hindustan Unilever said it will file necessary appeal with the appellate authority, adding that there’s ...