Black Buck Ltd Appeal Dismissed, ₹22.4 Cr Tax Demand Upheld

Black Buck Ltd announced that its appeal against an adjudication order dated February 24, 2025, has been dismissed by the Joint Commissioner of Commercial Taxes (Appeals)-4, Bengaluru. The original order confirmed a demand of ₹22,42,28,783/- for the tax period April 2020 to March 2021, relating to erroneously availed Input Tax Credit (ITC) under IGST, CGST, and KGST, along with applicable interest and penalty. The company's appeal, filed against the disallowance of ITC on grounds including non-disclosure in annual returns and non-compliance with Section 16(2)(c) of the CGST/KGST Act, was upheld. The total confirmed demand comprises tax of ₹10,01,02,136/-, interest of ₹11,41,16,435/-, and penalty of ₹1,00,10,212/-.