Announced Wed, 1 Jul · 19:42 IST
Income tax penalty of Rs 34.24 lakh for AY 2017-18; company to appeal
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AI summary
Archean Chemical received an income tax penalty order of Rs 34.24 lakh under Section 270A for AY 2017-18, alleging under-reporting of income amounting to misreporting. The order came from the Deputy Commissioner of Income Tax, Central Circle, Chennai on June 30, 2026. The company plans to appeal before CIT (Appeals) and expects a favorable outcome, stating no material financial impact.
Likely market impact
Small penalty under appeal; management sees no material financial impact on operations or shareholders.