Income tax penalty orders worth Rs 271.48 lakhs received; company to appeal
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Bharat Seats received 4 income tax penalty orders under Section 271DA of the Income Tax Act for Assessment Years 2019-20, 2020-21, 2021-22, and 2024-25. Total penalty is Rs 271.48 lakhs, with the largest being Rs 170.76 lakhs for AY 2021-22. Orders were received on June 24, 2026. The company will file appeals and, based on its own assessment and legal advice, expects a favorable outcome with no impact on financials or operations.
Total tax penalty of Rs 271.48 lakhs pending appeal. Company expects no material financial impact based on legal advice.