Rubicon Research Ltd Receives Assessment Order for AY 2023-24 on International Transactions
Rubicon Research Limited, formerly known as Rubicon Research Private Limited, has reported receiving an assessment order from the Income Tax Department concerning its financial year 2023-24. The order, received on April 21, 2026, from the Assessment Unit in Mumbai, relates to the company's international transactions.The assessment order pertains to the Assessment Year (AY) 2023-24. The Income Tax Department has raised additions and disallowances totaling Rs. 20,68,44,914/-. These adjustments specifically relate to an investigation into Arms' Length Pricing concerning the company's international transactions.
The total demand raised against the company amounts to Rs. 17,25,17,210/-, though this figure is subject to the outcome of any appeal or rectification process. Furthermore, the company has received a show cause notice initiating penalty proceedings under section 270A of the Income-tax Act, 1961.
The company confirmed that it is taking action by filing an appeal before the appropriate appellate authority. Rubicon Research Limited stated that, based on advice from its tax advisors, the company remains confident in the merits of its case.
Key details of the communication received are presented below:
| Particulars | Detail |
|---|---|
| Assessment Year | 2023-24 |
| Issuing Authority | Income Tax Department (Assessment Unit), Mumbai |
| Nature of Order | Assessment Order u/s 143(3) read with section 144C (3) and 144B and Demand Notice u/s 156 of the Income-tax Act, 1961 |
| Additions/Disallowances | Rs. 20,68,44,914/- (Related to Arms' Length Pricing) |
| Total Demand Raised | Rs. 17,25,17,210/- |
| Penalty Action | Show cause notice for penalty proceedings under section 270A |
| Company Status | Filing an appeal before the appropriate appellate authority |
RUBICON Stock Price Movement
As of 10:37 AM, Rubicon Research Limited stock is edging higher, rallying 1.52% and currently trading at ₹935.4. The equity is showing strong intraday momentum, trading within a range of ₹922.15 to ₹938.5, supported by robust activity at a volume of 57,558 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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