Popular Vehicles and Services Limited has informed the Exchange about Action(s) taken or orders passed
PVSL · price
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Popular Vehicles and Services Limited has disclosed that the National Faceless Assessment Centre (acting as National Faceless Penalty Centre) of the Income Tax Department has imposed a penalty on the company. The penalty is under Section 271(1)(c) of the Income Tax Act, relating to disallowance under Section 43B(f) for leave encashment and Section 36(1)(iii) for investments in group companies. The order was received on 29 July 2025 and covers Assessment Year 2012-13. The total penalty amount is Rs. 20,48,958 (about Rs. 20.49 lakhs). The company has stated there is no other impact on its operations beyond this monetary penalty.
The penalty amount is small (around Rs. 20.49 lakhs) and pertains to a very old assessment year (2012-13), so it is unlikely to materially affect the company's financials or stock price. Shareholders should note the tax demand but it does not impact day-to-day business operations.