Tax & Penalty8 Jun 2026, 09:21 pm
Kalpataru Projects Faces Tax Demand of ~₹99 Lakhs in Eswatini
AI Summary
Kalpataru Projects International Ltd's branch in Eswatini has received a tax assessment order from the Eswatini Revenue Service demanding approximately ₹99.12 lakhs (SZL 1,717,787) in tax and fine. The demand is due to the alleged wrongful addition of offshore supply revenue and disallowance of certain expenses for the financial years 2022-23 to 2024-25. The company intends to file objections against the order within the prescribed timelines. Kalpataru Projects stated that the fine does not have a significant impact on the company's financial or operational activities.
Key Highlights
- Eswatini branch received tax assessment order for FY23-25.
- Demand includes tax and fine of ~₹99.12 lakhs.
- Company disputes wrongful addition of revenue and expense disallowance.
- Kalpataru Projects plans to file objections against the order.
- No significant financial or operational impact expected.
Price Impact
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