Textile company Himatsingka Seide has been hit with a tax dispute worth approximately $9.2 million over transfer pricing issues related to guarantees, loans, and exports. The initial decision by the tribunal to dismiss the additional taxes of this amount was reversed, as the High Court granted relief to the revenue authorities due to their delay being condoned.

Himatsingka Seide has secured a significant victory in a transfer pricing dispute worth INR 5.85 crore for the fiscal year 2009-10, as the tax addition has been revoked. However, the ongoing promoter litigation remains unresolved.