Munjal Showa Limited has informed the Exchange about General Updates
MUNJALSHOW · price
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On the reaction day the stock moved 1.0 pts more than Nifty Microcap 250 and 1.6 pts more than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Munjal Showa Limited has informed exchanges that it received a tax demand notice from the Income Tax Department on April 12, 2026. A penalty of INR 37.35 Lakhs has been levied for Assessment Year 2015-16 under section 271(1)(c) of the Income Tax Act. The penalty relates to an alleged furnishing of inaccurate particulars of income, specifically related to disallowance of excess MAT credit. The company stated it will challenge this demand by filing an appeal before the Commissioner of Income Tax Appeals, citing strong merits.
The penalty amount of INR 37.35 Lakhs is relatively small for the company and since the company plans to contest it, the immediate financial impact may be limited. However, any adverse outcome in the appeal could result in a minor cash outflow.