Rane subsidiary faces INR 6.74 cr tax order, plans appeal

Rane Steering Systems Private Limited (RSSL), a wholly owned subsidiary of Rane Holdings Limited, announced on September 9, 2025, that it has received an order from the Income Tax Department's National Faceless Appeal Centre. The order dismisses RSSL's appeal against a previous order under Section 147 of the Income Tax Act, 1961, and disallows certain revenue expenses, adding them back to income.

The order, applicable for the assessment year 2015-16 (Financial Year 2014-15), has an expected financial implication of INR 6.74 Cr (tax demand) for RSSL. The disallowance of expenses, specifically under Section 37 of the Income Tax Act, led to this outcome. RSSL plans to file a statutory appeal and/or seek a stay order within the stipulated time limits.

Rane Holdings Limited made this disclosure in compliance with regulatory requirements. The company asserts that the information provided is true, correct, and complete to the best of its knowledge.