Tax & Penalty29 Sept 2026, 06:50 pm
United Breweries Ltd Faces ₹54.8 Cr Tax Penalty Demand
AI Summary
United Breweries Ltd has received penalty orders from the National Faceless Assessment Centre (NFAC) of the Income Tax Department for multiple Assessment Years (2013-14, 2014-15, 2017-18, 2018-19, 2020-21, and 2022-23). The aggregate penalty demand amounts to ₹54,82,99,656. The penalties are levied under sections 271(1)(c) and 270A of the Income-tax Act, 1961. The company states that these penalties are imposed on issues for which appeals are already pending adjudication before appellate authorities, and in some cases, the NFAC has levied excess or duplicative penalties. United Breweries believes it has a strong case to defend these demands.
Key Highlights
- Company received penalty orders totaling ₹54.83 Cr from Income Tax Department.
- Penalties are for assessment years ranging from 2013-14 to 2022-23.
- Company disputes penalties, citing pending appeals and potential errors.
- United Breweries is confident in its ability to defend the demands.
Price Impact
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