Income tax penalty of Rs 67.9 crore for AY 2009-10
SHRIRAMFIN · price
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On the reaction day the stock moved 2.9 pts less than Nifty 100 and 3.3 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shriram Finance received an income tax order on Sept 29, 2026, levying a penalty of Rs 67.9 crore under Section 271(1)(c) of the Income Tax Act for Assessment Year 2009-10. The order relates to an alleged incorrect deduction claim of around Rs 199.8 crore. The company says there is no material impact on financials or operations and will appeal before the first Appellate Authority, citing strong merits to get the demand quashed.
No material impact as per company; will appeal. Watch legal outcome but near-term financials likely unaffected.