Legal28 Mar 2024, 10:10 pm
Suzlon Energy Faces Penalties Totaling Rs. 251.25 Crores
AI Summary
In a disclosure, Suzlon Energy Ltd. revealed that the National Faceless Assessment Centre of the Income Tax Department has imposed penalties amounting to Rs. 251.25 Crores for FY 2015-16 and FY 2016-17. The penalties include disallowances of claims under sections 14A, 32(1), and 36(1)(va) for violation of tax regulations. Suzlon is challenging these penalties in appellate and judicial forums.
Key Highlights
- Penalties total Rs. 251.25 Crores
- Disallowances under sections 14A, 32(1), and 36(1)(va)
- Company believes penalty orders are premature
- Challenging penalties in appellate and judicial forums