Hero MotoCorp, India's largest motorcycle and scooter manufacturer, has been served with an income tax demand of ₹5.50 crore for the assessment year 2021-22. The Income Tax Department raised the company's reported income by ₹13.23 crore, resulting in this additional tax liability. Despite the demand, Hero MotoCorp plans to appeal the decision, considering it unsustainable and anticipates no significant financial impact on its operations.

Key Points:

• Assessment Year: 2021-22

• Additional Tax Demand: ₹5.50 crore

• Income Adjustment: Increase of ₹13.23 crore in reported income

• Company's Stance: Plans to appeal; expects minimal financial impact

This demand follows a similar tax claim of ₹26.40 crore for the 2020-21 assessment year. However, Hero MotoCorp maintains that such tax challenges are unlikely to affect its overall business performance. The company remains optimistic that the outcome of this dispute will not hinder its operations or growth trajectory.

Despite the increasing number of tax disputes, Hero MotoCorp continues to focus on its core business and aims to manage any financial implications efficiently.

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