EIHAHOTELS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
EIH Associated Hotels Ltd has received a favourable order from the Commissioner of Income Tax (Appeals) in Chennai. The CIT(A) has deleted the entire penalty demand that was issued under Section 270A of the Income Tax Act, 1961 for Financial Years 2016-17 and 2017-18. The penalties amounted to ₹27,80,943 and ₹11,98,113 respectively, totaling approximately ₹39.79 lakh. The company had challenged these penalty orders by filing an appeal, which has now been decided entirely in the company's favour. The orders were received on 18th May 2026.
This is a positive development for shareholders as the company has been granted full relief from a tax penalty demand of nearly ₹40 lakh, improving the company's financial position.