Income Tax Dept. Imposes ₹23 Crore Fine on Adani’s ACC
NEW DELHI: The Income Tax (I-T) department has issued two penalties to ACC Ltd, totaling Rs 23.07 crore, which the Adani Group company plans to challenge in appellate authorities. The I-T department has imposed a fine of Rs 14.22 crore for allegedly providing inaccurate income details for the Assessment Year 2015-16. Additionally, a penalty of Rs 8.85 crore has been levied for under-reporting income for the Assessment Year 2018-19. “The company will contest both orders by appealing to the Commissioner of Income Tax (Appeals) within the designated timelines and will concurrently seek a stay on the penalties,” ACC stated in…