Tax & Penalty9 Sept 2026, 02:30 pm
Honda India Power Products Faces ₹29.82 Cr Tax Demand
AI Summary
Honda India Power Products Ltd has received an assessment order from the Income Tax Authority for AY 2023-24, resulting in a tax demand of ₹29.82 Crores, including interest, due to disallowances of certain expenditures. The company stated that similar issues from previous years have been decided in its favor by higher courts. Honda India Power Products plans to file an appeal before the Income Tax Appellate Tribunal. The company asserts that this order will have no material impact on its financial, operational, or other activities.
Key Highlights
- Income Tax assessment order for AY 2023-24 received.
- Tax demand of ₹29.82 Crores issued, including interest.
- Company to appeal the order before the Income Tax Appellate Tribunal.
- No material impact expected on financial or operational activities.
- Similar past issues were decided in the company's favor.
Price Impact
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