Munjal Showa Receives ₹37.35 Lakh Tax Penalty

Munjal Showa Ltd received a tax demand notice and penalty order for ₹37.35 lakhs from the Income Tax Department on April 12, 2026.
The penalty was levied under section 271(1)(c) for alleged furnishing of inaccurate particulars of income for assessment year 2015-16.
The company will file an appeal before the Commissioner of Income Tax Appeals to challenge the order based on strong merits.