Key Quantitative Figures

  • Penalty amount upheld: ₹96,86,205
  • Previous filing reference: CFCL/SE/2025-26/84 dated March 10, 2026

Dates of Action

  • Original assessment order date: March 9, 2026
  • Appeal order receipt date: August 7, 2026
  • Disclosure date: August 7, 2026

Parties Involved

  • Assessing authority: Assessment Unit, Income Tax Department
  • Appellate authority: Commissioner of Income-tax (Appeals), Income Tax Department
  • Listed entity: Chambal Fertilisers and Chemicals Limited

Nature of Violations

Penalty upheld under Section 271(1)(c) of Income Tax Act, 1961 for:

  • Disallowance of provision for loss of diminution in value of investments
  • Disallowance of expenses incurred on construction of an anicut

Financial Impact

  • Explicit financial impact: ₹96,86,205 penalty amount
  • Company states: "No impact on financial, operation or other activities of the Company, save and except to the extent of the penalty levied"

Company Position and Next Steps

  • Company believes it has "a good case on merits"
  • Will challenge the order before the appropriate authority