MRF Limited has informed the Exchange about Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
MRF · price
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Awaiting price reaction for this filing.
MRF Limited has disclosed that the Deputy Commissioner of Income Tax has imposed a penalty of Rs. 4,12,908 under Section 271(1)(c) of the Income-tax Act, 1961, received on 29th August 2025. This relates to Assessment Year 2014-15, where the Income Tax Appellate Tribunal had restricted the disallowance under Section 14A to Rs. 0.15 crores (out of Rs. 0.31 crores disallowed by the Assessing Officer). The company had earlier received favourable appellate orders resulting in a tax relief of Rs. 116.45 crores and a refund of Rs. 49.69 crores on 21st August 2025. MRF plans to file an appeal with the Commissioner of Income Tax (Appeals) against this penalty order.
The penalty amount is very small (about Rs. 4.1 lakhs) compared to MRF's overall size and does not materially affect the company's financials. The larger Rs. 116.45 crore relief from appellate orders is the more significant development, and the stock is unlikely to be impacted by this minor tax penalty.