Tax & Penalty30 Sept 2026, 05:20 pm
Maruti Suzuki Subsidiary Receives ₹14.96 Cr Tax Penalty
AI Summary
Suzuki Motor Gujarat Private Limited, now amalgamated with Maruti Suzuki India Ltd, has received a penalty order of ₹149.64 million (₹14.96 Crore) from the Income Tax Authority. The penalty is under Section 270A of the Income-tax Act, 1961, for FY 2022-23, related to certain additions/disallowances that are currently subjudice before appellate authorities. Maruti Suzuki India Ltd plans to file an appeal against this penalty order. The company stated that there is no major impact on its financial, operational, or other activities due to this order.
Key Highlights
- Subsidiary received a penalty order of ₹14.96 Crore from Income Tax Authority.
- Penalty relates to FY 2022-23 additions/disallowances, currently under appeal.
- Company intends to file an appeal against the penalty order.
- No significant financial or operational impact expected.
Price Impact
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