Tax & Penalty13 May 2026, 05:21 pm
Bharat Forge: Penalty Reduced to ₹85.3 Lakh for FY17
AI Summary
Bharat Forge Ltd received an order from the Commissioner of Income-tax (Appeals) reducing the penalty to ₹85,29,661 for under-reporting of income under Section 270A of the Income Tax Act, 1961 for the financial year 2016-17. The company received the order on May 12, 2026, and is planning to appeal the order before ITAT, Pune. Bharat Forge states that the order has no material impact on the company's financials, operations, or other activities.
Key Highlights
- Bharat Forge receives order reducing penalty to ₹85.3 Lakh.
- The penalty relates to under-reporting of income for FY 2016-17.
- Company plans to file an appeal before ITAT, Pune.
- Bharat Forge states no material impact on financials or operations.
Price Impact
More from BHARATFORG