SML Mahindra Limited , a prominent player in the automotive sector, has encountered a setback in its recent tax dispute. The Dispute Resolution Panel (DRP) has dismissed the company's appeal against a draft assessment order, potentially impacting its financial position for the assessment year 2022-23.

Key Developments

1. Appeal Dismissal: The Dispute Resolution Panel has rejected SML Mahindra's appeal against a draft assessment order issued under section 144C(1) of the Income Tax Act.

2. Transfer Pricing Adjustment: The order includes transfer pricing adjustments amounting to Rs 9.92 Lacs for the assessment year 2022-23.

3. Disputed Areas: The tax authority has questioned the company's methodology in two key areas:

   • The arms length price adopted by SML Mahindra
   • The method used for corporate guarantee fee payments to associated enterprises

Financial Implications

The dismissal of the appeal and the subsequent transfer pricing adjustment could potentially affect SML Mahindra's tax liability for the assessment year 2022-23. The company has indicated its intention to file an appeal against the final assessment order, which is yet to be issued by the Assessing Officer (AO).

Transfer Pricing Dispute Details

Company Response

SML Mahindra Limited has stated its intention to contest the decision. The company plans to file an appeal against the final assessment order once it is issued by the Assessing Officer. This move indicates that SML Mahindra is prepared to pursue further legal avenues to challenge the transfer pricing adjustments.

Implications for Investors

Investors and stakeholders of SML Mahindra Limited should closely monitor the developments in this tax dispute. While the current adjustment amount of Rs 9.92 Lacs may not significantly impact a company of SML Mahindra's size, the outcome of this case could set a precedent for future transfer pricing assessments and potentially affect the company's tax planning strategies.

As the situation evolves, it will be crucial to watch for any updates on the final assessment order and the company's subsequent appeal. These developments may provide further insights into the potential financial implications and the company's approach to managing its tax affairs.

SML Isuzu Limited , a prominent player in the trucks and buses segment, has officially changed its name to SML Mahindra Limited. This corporate action, approved by the Registrar of Companies and both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), took effect on November 10, 2025.

Key Changes

The company has undergone several important updates:

Corporate Details

SML Mahindra Limited continues to operate in the trucks and buses segment, with its registered office located in Punjab. The company's corporate office is situated at 204-205, Sector 34-A, Chandigarh – 160022.

Investor Information

Investors and market participants should take note of these changes, particularly the new trading symbol 'SMLMAH' on both the NSE and BSE. The BSE scrip code remains unchanged at 505192, providing continuity for existing investors and systems.

Management Statement

Parvesh Madan, Company Secretary & Compliance Officer of SML Mahindra Limited, officially communicated these changes to the stock exchanges. The company has ensured a transition in its corporate identity while maintaining its core business operations.

This rebranding marks a significant milestone for the company. Investors and stakeholders are advised to update their records and trading systems to reflect these changes, ensuring seamless transactions and communications with the newly rebranded SML Mahindra Limited.