Tax & Penalty28 Sept 2026, 06:20 pm
Kirloskar Oil Engines Receives ₹9.9 Cr Tax Demand Notice
AI Summary
Kirloskar Oil Engines Ltd has received a Show Cause Notice from the Deputy Commissioner of Commercial Taxes, Bengaluru, for the FY 2022-23. The notice alleges ITC Mismatch & HSN misclassification, demanding ₹4,91,06,051 in tax, ₹3,66,36,682 in interest, and ₹49,10,606 in penalty, totaling approximately ₹9.96 crore. The company stated it does not foresee any material impact and is preparing a reply to the authority within the prescribed timelines.
Key Highlights
- Received tax demand notice for ₹9.96 crore for FY 2022-23.
- Allegations include ITC Mismatch & HSN misclassification.
- Company expects no material financial or operational impact.
- A reply to the tax authority is being prepared.
Price Impact
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