Legal24 Mar 2026, 12:48 pm
MRF Ltd Faces Penalty of Over Rs. 55 Crores from Income Tax Department
AI Summary
MRF Ltd, a leading tire manufacturing company, has disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has received penalty orders from the Deputy Commissioner of Income Tax, Ministry of Finance, Government of India. The penalties are related to contraventions committed in the assessment years 2013-14, 2015-16, and 2016-17. The total penalty amount is over Rs. 55 crores. The company will be filing appeals with the CIT (A) against these penalty orders.
Key Highlights
- MRF Ltd has received penalty orders from the Income Tax Department for contraventions committed in the assessment years 2013-14, 2015-16, and 2016-17.
- The total penalty amount is over Rs. 55 crores.
- The company will be filing appeals with the CIT (A) against these penalty orders.
- The penalties are related to disallowances of litigation provisions and Section 14A.
- The company had received favorable appellate orders for the same assessment years, resulting in relief of over Rs. 209 crores.