Maruti Suzuki Fined ₹67.05 Million by Income Tax Authority

Maruti Suzuki India Ltd has received a Penalty Order from the Income Tax Authority, levying a penalty of ₹67.05 million under section 271(1)(c) of the Income Tax Act, 1961. This penalty is related to certain additions/disallowances made in tax proceedings for the Financial Year 2009-10. The company intends to file an appeal against this order. Maruti Suzuki has stated that this penalty order will not have a major impact on its financial, operational, or other activities.