Tax & Penalty2 Jun 2026, 02:56 am
Kirloskar Oil Engines Receives ₹6.68 Cr Tax Demand Notice
AI Summary
Kirloskar Oil Engines Limited has received a Show Cause Notice from the Deputy Commissioner of State Tax, Pune, for the Financial Year 2022-23. The notice imposes a tax demand of ₹3,18,52,849/-, interest of ₹2,31,38,259/-, and a penalty of ₹31,85,286/-, totaling approximately ₹6.68 crore. This action is due to an Input Tax Credit (ITC) mismatch. The company stated that it does not foresee any material impact on its financial or operational activities and is in the process of filing a reply.
Key Highlights
- Received tax demand, interest, and penalty totaling ₹6.68 Cr.
- Notice pertains to ITC mismatch for FY 2022-23.
- Company expects no material financial or operational impact.
- Kirloskar Oil Engines is preparing a reply to the authorities.
Price Impact
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