Principal Commissioner of Income Tax, Mumbai-6 rejected Automobile Products of India's revision petition u/s 264 on March 30, 2026.
Tax demand including interest stands at Rs 10.41 crore and penalty u/s 271(1)(c) at Rs 3.60 crore for AY 2015-16.
Company is examining the order and will take appropriate legal steps; total financial exposure is Rs 14.01 crore.