ASAsian Star Company531847Tax or GST

Income Tax Department levies Rs. 16,12,74,109 penalty; company files appeal

Penalty order dated 28/09/2026 received from the Ministry of Finance, Income Tax Department, levying Rs. 16,12,74,109/- under Section 271G of the Income-tax Act, 1961.

By ScoutQuest · Wed 4 Nov 2026, 6:44 PM IST · 2 min read

Penalty amount

Rs. 16,12,74,109/-

Statutory provision

Section 271G of the Income-tax Act, 1961

Order date

28/09/2026

What was disclosed

• The company received an order dated 28/09/2026 passed by the Ministry of Finance, Income Tax Department.
• The order levies a penalty of Rs. 16,12,74,109/- under Section 271G of the Income-tax Act, 1961.
• The order was received by the company through email dated September 29, 2026.

Company's position on the order

• The company says the penalty order is not sustainable and has shared an appeal before the appropriate appellate authority challenging it.
• It says it is hopeful of a favourable outcome at the appellate level.
• Based on its own assessment, the company believes there will be no impact on its financials, operations or other activities due to this order.
• It has said it will take appropriate steps to pursue the matter in accordance with applicable law.

The quantified figure

• The penalty amount stated in the order is Rs. 16,12,74,109/-. This is the monetary figure the company has put on record in the disclosure.
• The company's stated view is that this amount would not affect its financials, operations or other activities, given its assessment of the case and the appeal it has shared.

On the delay in disclosure

• The company received the order by email on 29 September 2026 and examined it in consultation with its tax and legal advisors.
• It attributes the delay in disclosure to the time taken to review the order and evaluate its implications.
• It has expressed regret for the delay and said it is strengthening its internal compliance mechanism to ensure timely disclosures in future.

How to read this

• This is a disclosure of an order passed by a tax authority, coupled with the company's own view that the penalty is not sustainable and that it has appealed.
• The company's statement that there will be no financial impact is its own assessment, made alongside the appeal it has shared.
• The penalty amount of Rs. 16,12,74,109/- is the figure a reader can track against the outcome of the appeal.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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