Indian Hume Pipe Company Limited has informed the Exchange about General Updates
INDIANHUME · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Indian Hume Pipe Company has disclosed two income tax penalty orders both dated 31st March 2026 for Assessment Year 2023-2024. The first penalty of Rs. 5.10 crore was imposed under Section 270A for alleged under-reporting of income due to disallowance of deduction of Rs. 7.30 crore under Section 54D. The second penalty of Rs. 63.11 lakh was imposed under Section 271AAC for alleged unexplained purchases of Rs. 10.52 crore. Total penalties amount to approximately Rs. 5.73 crore. The company has already filed appeals with ITAT Mumbai and the Commissioner of Income Tax (Appeals), and believes it has adequate legal grounds to challenge both penalties as they arise from interpretation differences rather than non-reporting of income.
While the total penalty demand is around Rs. 5.73 crore, the company states there is no material impact on its financial, operational or other activities as it expects the entire demand to be overturned on appeal. However, the pending tax dispute adds uncertainty and investors should monitor for any adverse developments.