Bharat Seats Ltd Faces ₹271.48 Lakhs Penalty Orders

Bharat Seats Ltd has received four penalty orders from the Income Tax Department totaling ₹271.48 lakhs for Assessment Years 2019-20 to 2021-22 and 2024-25. The penalties are under Section 271DA read with Section 269ST of the Income Tax Act, 1961. The company plans to file appeals against these orders and, based on legal advice, anticipates a favorable outcome with no expected impact on its financials or operations. The disclosure was made within 24 hours of receiving the orders.