Regulation, Compliance & Legal › Sub-category
Tax / GST / Customs Action
55 articles
Tax disputes and assessments continue to impact Indian businesses across various sectors. Several companies, including JK Cement, DCM Shriram, and Hindustan Tin Works, are navigating GST and income tax appeals, with mixed outcomes—some demands being reduced while others are upheld. While most companies assert that these developments will have a minimal financial impact, the ongoing legal battles and penalties, such as the ₹1.60 crore penalty for Hindustan Tin Works and the ₹1162.53 crore demand notice for United Breweries, highlight the persistent risk of tax-related liabilities. These ongoing disputes underscore the need for robust tax planning and compliance strategies as businesses navigate complex regulatory landscapes.
JK Cement GST Appeals Partly Allowed by Kota Authority
JK Cement received two GST appeal orders from Additional Commissioner (Appeals), Kota on July 3, 2026.
Original demands of ₹2.99 crore and ₹7.28 crore were largely dropped, with minimal confirmed dema
DCM Shriram ITAT Partially Allows Tax Appeal
DCM Shriram discloses an ITAT order partially allowing its appeal against a Rs. 249.27 crore income tax demand for AY 2022-23.
The ITAT granted a relief of Rs. 172.82 crore and referred matters worth
Kalpataru Subsidiary Loses ₹9.2 Crore Tax Appeal
Kalpataru discloses CIT(A) order dismissing subsidiary Abacus Real Estate's appeal for AY 2013-14.
Net tax demand sustained is ₹9.20 crore after adjusting for ₹6.24 crore already paid.
Company states
Hindustan Tin Works Receives ₹1.60 Crore Tax Order
Hindustan Tin Works received a tax assessment order from Excise & Taxation Officer, Sonipat for AY 2015-16.
The order demands ₹80.22 lakh tax and ₹80.22 lakh interest, totaling ₹1.60 crore in liabilit
Dhampur Sugar Receives ₹1 Lakh UP Excise Penalty
Dhampur Sugar Mills discloses receipt of an order from the Uttar Pradesh Excise Commissioner imposing a ₹1,00,000 penalty.
The penalty is for alleged storage of liquor, ENA, and Tetra Packs in locatio
Synergy Green Industries FY26 Profit Drops 72% Amid Expansion
Synergy Green Industries reported FY26 standalone net profit of ₹465.65 lakhs, down 72% YoY despite 3.5% revenue growth to ₹376.37 Cr, impacted by expansion costs.
The company completed ₹217 Cr capex
Whirlpool India Receives INR 15.5 Lakh GST Demand
Whirlpool of India received a GST demand order for FY 2019-20 totaling INR 15.51 lakh from Bihar tax authorities.
The order comprises a tax demand of INR 6.96 lakh, interest of INR 7.75 lakh, and a pe
Happiest Minds Intimates Dividend Tax Deduction Process
Happiest Minds communicated TDS procedures for dividend income to shareholders under Income Tax Act 2025.
Company provided detailed note on dividend withholding tax rates and necessary annexures via e
Delta Manufacturing Receives GST Scrutiny Notice
Delta Manufacturing received a GST scrutiny notice for FY 2023-24 returns from the Deputy Commissioner of State Tax.
The notice seeks explanation for discrepancies in Reverse Charge Mechanism supplies
Lambodhara Textiles GST Appeal Dismissed ₹7.24 Lakh
Lambodhara Textiles received an appellate order dismissing its appeal against a GST penalty of ₹7.24 lakh.
The company had initially received the demand order in March 2024 and filed an appeal thereaf
Mirza International FY26 AGM Notice Reports ₹57 Lakh Loss
Mirza International reported consolidated net loss of ₹57 lakh on revenue of ₹52,723 lakh for FY26 with standalone profit of ₹213 lakh after exceptional income.
The company completed amalgamation of R
Sanofi India Wins ₹72.7 Lakh Tax Appeal
Sanofi India received a favorable order from the Income Tax Commissioner (Appeals) for AY 2019-20, dropping proceedings under Section 201.
The order deletes a tax demand of ₹72.71 lakh related to non-
Reliance Power Receives ₹2.45 Crore Tax Penalty
Reliance Power discloses receipt of a ₹2.44 crore penalty order from the Income Tax Department for AY 2016-17.
The penalty was levied under Section 271(1)(c) due to a Section 14A disallowance and a tr
ICICI Prudential Life Insurance GST Appeal Order Update
ICICI Prudential Life Insurance received a partially favorable GST appeal order for FY2018 from Andhra Pradesh tax authorities.
The order partially upholds a tax demand totaling ₹1.65 lakh for excess
NCLAT Chennai Lists GST Department Appeal Against Vasan Construction Liquidator
NCLAT Chennai lists GST department's appeal against Vasan Construction liquidator for admission hearing on August 3, 2026.
The appeal challenges a previous order related to the liquidation process of
Purohit Construction GST Appeal Dismissed, ₹4.16Cr Demand
Purohit Construction discloses receipt of an Order-in-Appeal dated June 23, 2026, from GST Commissioner (Appeals), Ahmedabad.
The appeal against an earlier GST demand order was dismissed, upholding a
Ashiana Housing Receives ₹2.28 Lakh Income Tax Penalties
Ashiana Housing Ltd discloses receipt of two penalty orders from the Income Tax Department, Delhi, totaling ₹2,28,286.
A ₹2,08,286 penalty under Section 271C was levied for non-deduction and non-depos
United Breweries Receives ₹1162.53 Crore Demand Notice
United Breweries received a demand notice for ₹1162.53 crore from the Market Committee, Patiala, for alleged non-payment of fees.
The notice covers market fee, penalty, rural development fund, and int
ZF Steering Gear FY26 Net Profit ₹31.78 Crore, AGM Scheduled
ZF Steering Gear reported standalone revenue of ₹556.74 crore and net profit of ₹31.78 crore for FY 2025-26 with no dividend declared to conserve resources for subsidiary expansion.
AGM scheduled for
Bannari Amman Sugars Rs 12.72 Crore Tax Recovery Notice
Bannari Amman Sugars received Rs 12.72 crore tax recovery notice from Erode District Collector under Revenue Recovery Act.
Company had previously won High Court case in 2012 challenging this electrici
Park Hotels Receives ₹41.07 Crore Tax Demand
Apeejay Surrendra Park Hotels received an income tax demand order of ₹41.07 crore for AY 2024-25.
The demand results from disallowances under Sections 37(1), 40(a)(ia), 68, 69C, and 35D of the Income-
Vikas Ecotech FY26 Results with Qualified Audit Opinion
Vikas Ecotech reported standalone net profit of ₹12.72 lakh for FY26, with Q4 net loss of ₹109.74 lakh, amid a qualified audit opinion.
Auditors issued qualified opinion citing insufficient evidence f
Mphasis FY26 Net Profit Rises 9.4% to ₹18,626 Million
Mphasis reported 9.4% YoY net profit growth to ₹18,626 million with 11.6% revenue increase to ₹158,796 million for FY26.
The company proposed a final dividend of ₹62 per share and announced AGM on Jul
Archean Chemical Receives ₹34.24 Lakh Tax Penalty
Archean Chemical received a penalty order of ₹34.24 lakh for AY 2017-18 from the Deputy Commissioner of Income Tax.
The penalty was imposed under section 270A for under-reported income alleged to be d
Harish Textile Receives Income Tax Reassessment Order
Harish Textile Engineers received Income Tax Order under Section 148A(3) and Notice under Section 148 for AY 2021-22 reassessment.
The order, received June 30, 2026, deems the case fit for reassessmen
FirstCry ESOP Trust Receives Income Tax Notice
Brainbees ESOP Trust received an Income Tax Order and Notice for A.Y. 2022-23 concerning share issuance valuation.
The IT Department alleges income escaped assessment on 1.04 crore shares issued at fa
Mukka Proteins Income Tax Appeal Partly Allowed
Mukka Proteins received appellate order dated 30th June 2026 from CIT(A)-2, Panaji for AY 2018-19 income tax dispute.
Appellate authority deleted ₹8.08 crore additions but sustained ₹7.54 crore additi
Thangamayil Jewellery FY26 Revenue Up 73% to ₹8,499 Cr
Thangamayil Jewellery reported 73% revenue growth to ₹8,499 crore and 196% PAT increase to ₹351 crore in FY26, driven by Chennai expansion and gold price appreciation.
The company declared ₹18 per sha
Anik Industries Wins Income Tax Appeals for Five Years
Anik Industries Ltd. intimates exchanges of favorable orders from the Commissioner of Income Tax (Appeals) for five assessment years.
The CIT(A) allowed the company's appeals against income tax assess
DCM Shriram Receives ₹1.59 Crore Income Tax Penalty
DCM Shriram discloses receipt of a penalty order from the Income Tax Department for FY 2021-22.
A penalty of ₹1.59 crore was levied on additions made regarding the sale of buildings.
The company has a
Global Surfaces Receives ₹1.74 Crore Income Tax Penalty
Global Surfaces Limited received an order dated June 29, 2026, imposing a penalty of ₹1.73 crore for alleged contravention of Section 269SS of the Income-tax Act for AY 2019-20.
The penalty relates to
GR Infraprojects FY26 Revenue Rises 17% with Asset Monetization
GR Infraprojects reported standalone revenue growth of 16.95% to ₹7,620.22 crore and PAT growth of 23.49% to ₹996.06 crore for FY26.
The company secured new orders worth ₹9,705.37 crore, maintaining a
Tanla Platforms FY26 Reports 9.7% Revenue Growth to ₹4,418 Cr
Tanla Platforms reported FY26 revenue growth of 9.7% to ₹4,418 Cr with PAT of ₹509 Cr and maintained strong cash flow generation of ₹477 Cr.
The company deployed Wisely.ai with Indosat Ooredoo Hutchis
Sapphire Foods FY26 ₹485M Loss, Devyani Merger Proposal
Sapphire Foods reported standalone net loss of ₹484.60 million for FY26 despite 8.03% revenue growth to ₹26,511.99 million, impacted by exceptional items and increased expenses.
The company announced
Aeroflex Industries Reports 17% Revenue Growth to ₹443 Crore
Aeroflex Industries reported 17% revenue growth to ₹443.3 crore and 26% EBITDA growth to ₹99.7 crore in FY26, with strong export performance contributing 69% of total revenue.
The company successfully
Sejal Glass FY26 Revenue Hits ₹401 Cr with 63% Growth
Sejal Glass reported consolidated revenue of ₹401.36 crores with 63% growth and PAT of ₹29.03 crores, though standalone operations recorded a ₹1.93 crore loss due to capacity under-utilization.
The co
Rajnandini Metal FY25 Results with GST Demand Qualification
Rajnandini Metal responded to NSE queries on its audited FY25 results, clarifying submission of financials and single business segment.
Auditors issued a qualified opinion due to unresolved GST and in
El Forge Limited FY26 Results Show 6% Profit Growth
El Forge Limited reported 5.6% revenue growth to ₹80.41 crore with net profit of ₹2.44 crore for FY26, maintaining zero external borrowings.
The company convened its 90th AGM on July 20, 2026 to appro
Tech Mahindra FY26 Net Profit Rises 10% to ₹38.59 Billion
Tech Mahindra reported standalone net profit of ₹38.59 billion for FY26, up 10% year-over-year, with revenue growing 9.7% to ₹489.27 billion driven by IT services and BPS segments.
The company declare
Ajanta Pharma FY26 Revenue Hits ₹5,453 Crore with 17% Growth
Ajanta Pharma reported strong FY26 performance with revenue growing 17% to ₹5,453 crore and PAT increasing 15% to ₹1,056 crore, crossing the ₹5,000 crore revenue milestone.
The company declared a divi
Jatalia Global Ventures FY26 Audited Results Under CIRP
Jatalia Global Ventures reported an audited net loss of ₹14.40 lakhs for FY 2025-2026, a significant decline from a ₹4.33 lakh profit in FY25.
The financial results were approved by the Committee of C
Avanti Feeds Q4 FY26 Revenue Rises 5.9% YoY
Avanti Feeds held a post-earnings conference call to discuss Q4 FY26 and full-year FY26 audited financial results.
Consolidated Q4 revenue increased 5.9% YoY to ₹1,515 crore, but PBT declined 12.8% to
Jatalia Global Ventures FY26 Audited Loss ₹14.40 Lakhs
Jatalia Global Ventures filed audited FY25-26 results showing a net loss of ₹14.40 lakhs versus a ₹4.33 lakh profit last year.
The company is undergoing Corporate Insolvency Resolution Process (CIRP)
Kirloskar Ferrous FY26 Net Profit Up 73.4% YoY
Kirloskar Ferrous reported FY26 standalone net profit of ₹504.74 crore, up 73.4% YoY, with revenue of ₹6,888.57 crore.
The company completed merger of Oliver Engineering and Adicca Energy effective Ap
Kothari Industrial FY26 Consolidated Loss ₹72.19 Crore
Kothari Industrial reported a standalone net loss of ₹31.19 crore and a consolidated net loss of ₹72.19 crore for FY ended March 31, 2026.
Auditors issued a qualified opinion highlighting six key issu
Everest Kanto Cylinder FY26 PAT Up 50.1% YoY
Everest Kanto Cylinder reported strong FY26 results with consolidated PAT growth of 50.1% YoY to ₹146.7 crore and EBITDA margin expansion of 210 bps to 13.8%.
The company announced a dividend of ₹0.70
CreditAccess Grameen FY26 Net Profit Rises 46% to ₹778 Crore
CreditAccess Grameen reported FY26 standalone net profit of ₹777.64 crore, up 46% YoY, with gross loan portfolio growing 13.5% to ₹29,038.31 crore.
The company maintained strong asset quality with GNP
Valecha Engineering Posts FY26 Loss Amid Subsidiary Challenges
Board approved audited standalone and consolidated financial results for Q4 and year ended 31-Mar-2026, reporting a net loss of ₹9.43 crore (standalone) and ₹228.98 crore (consolidated) for FY26.
Reco
Urban Company FY26 Reports ₹235 Crore Loss Despite 36% Revenue Growth
Urban Company reported a consolidated net loss of ₹234.81 crore in FY26 despite 35.9% revenue growth to ₹1,555.54 crore, driven by strategic investments and increased expenses.
The company completed i
ZIM Laboratories FY26 Revenue Flat at ₹374.4 Cr, Profit Drops 49%
ZIM Laboratories reported flat FY26 revenue of ₹374.4 crore but net profit declined 49% to ₹5.97 crore due to EU-GMP accreditation pause and Middle East geopolitical disruptions.
The company raised ₹3
Thyrocare FY26 Net Profit Surges 79% to ₹163 Crore
Thyrocare reported consolidated revenue of ₹829.04 crore (up 21% YoY) and profit of ₹162.85 crore (up 79% YoY) for FY 2025-26.
The company issued 2:1 bonus shares and recommended a final dividend of ₹
High Energy Batteries Declares ₹3 Dividend Amid Flat FY26 Profit
High Energy Batteries recommended ₹3 per share dividend (150%) with record date June 12, 2026 and payment by July 4, 2026.
FY26 net profit marginally increased to ₹1,539 lakhs despite ₹125 lakh except
Suraj Limited FY26 Revenue Falls 11% to ₹205.85 Crores
Suraj Limited reported consolidated revenue of ₹205.85 crores and net profit of ₹7.47 crores for FY26, representing declines of 10.94% and 43.85% respectively.
Key financial ratios deteriorated signif
Suraj Limited FY26 Net Profit Declines 44% at AGM
Suraj Limited reported a 44% YoY decline in net profit to ₹7.47 crore with revenue decreasing 11% to ₹205.85 crore for FY26.
The company convened its 33rd AGM to approve audited financial statements a
Tata Steel Reports 243% PAT Growth, Approves ₹4 Dividend
Tata Steel reported consolidated PAT surge of 243% to ₹10,886 crore on revenue of ₹232,140 crore, driven by record India production and cost optimization initiatives.
The company commissioned Kalingan