Income Tax Penalty Orders Received for Four Search-Related Assessment Years

Received penalty orders u/s 270A from the Asst.

Wed 30 Sep 2026

AY 2017-18 Penalty

Rs. 2,79,87,171/-

AY 2018-19 Penalty

Rs. 16,64,95,790/-

AY 2019-20 Penalty

Rs. 56,40,46,040/-

AY 2020-21 Penalty

Rs. 15,99,23,720/-

Penalty Section

Section 270A of the Income Tax Act, 1961

What happened

The company informed the exchanges that it received penalty orders from the Office of the Assistant Commissioner of Income Tax, Central Circle 2(2) - Hyderabad, for search-related assessment years. The orders were received on 29-09-2026 and 30-09-2026.

Penalty amounts

• AY 2017-18: Rs. 2,79,87,171/-
• AY 2018-19: Rs. 16,64,95,790/-
• AY 2019-20: Rs. 56,40,46,040/-
• AY 2020-21: Rs. 15,99,23,720/-

Nature of the action

The penalties are levied under section 270A of the Income Tax Act, 1961, which deals with under-reporting or misreporting of income. These follow assessments connected with a search.

Company's stand

Based on its own assessment, the company states the penalty demands are not maintainable in law. It intends to take appropriate steps, including update an appeal before the appropriate forum within the stipulated timeline, and will update the outcome of the proceedings from time to time.

What investors may watch

• Whether the appeals are shared and admitted within the timeline.
• Any stay, part-payment or provisioning that may arise while the matter is contested.
• Further updates from the company on the outcome of the proceedings.

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