Transfer Pricing penalty order of Rs. 1,26,34,050 received; appeal planned
The company received an Income Tax Transfer Pricing order dated September 25, 2026 levying a penalty of **Rs.
- Penalty Amount
- Rs. 1,26,34,050
- Order Date
- September 25, 2026
- Assessment Year
- 2023-24
- Penalty Section
- Section 271G of the Income Tax Act, 1961
- Company Position
- Company believes the order is not maintainable and is preferring an appeal
What happened
Pfizer Limited disclosed receipt of a penalty order from the Deputy / Additional Commissioner of Income Tax Transfer Pricing.
- Order dated September 25, 2026, received on September 28, 2026.
- Penalty amount: Rs. 1,26,34,050.
- Passed under Section 271G of the Income Tax Act, 1961.
- Relates to the transfer pricing audit for Assessment Year 2023-24.
Why the penalty
The authority alleges the company did not furnish specific granular information sought during the transfer pricing audit. Section 271G penalties relate to failure to produce documents or information called for in transfer pricing proceedings, not to the tax amount itself.
Company's stand
The company states it believes the order is not maintainable and that it has strong grounds on merits. It is in the process of preferring an appeal against the order. It has said the order has no material impact on its financials, operations or other activities.
How to read it
This is a disclosure of a regulatory/tax action rather than a business development. The amount involved is small relative to a company of this size, and the matter is set to move into the appeal process, where outcomes can take time.
More numbers
- Penalty leviedRs. 1,26,34,050/-
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