Income Tax Penalty of Rs 1.59 Crore Levied for FY 2021-22
DCMSHRIRAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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DCM Shriram received an Income Tax penalty order dated 29 June 2026 under Section 270A for FY 2021-22. The tax department levied Rs 1.59 crore penalty on additions related to sale of buildings, which the company says were wrongly treated as capital assets instead of depreciable assets. The company is already appealing the underlying assessment order at ITAT Delhi, with hearing held on 26 May 2026. Company states the penalty order lacks merit and plans further legal action.
Small penalty relative to company size. Matter already under appeal at ITAT. Company plans to contest. Limited stock impact expected.