Bharat Seats Limited Receives Penalty Orders from Income Tax Department Across Multiple Assessment Years

Bharat Seats Limited Receives Penalty Orders from Income Tax Department Across Multiple Assessment Years​

Bharat Seats Limited has received four penalty orders from the Income Tax Department, pertaining to compliance under the Income Tax Act, 1961. The penalties cover various assessment years spanning 2019-20 through 2024-25.

The company received the orders on June 24, 2026, concerning penalties issued by the Office of the Deputy Commissioner of Income Tax in Delhi for alleged contraventions related to section 271 DA read with section 269ST of the Income Tax Act, 1961.

The total penalty amounted to Rs. 271.48 lakhs across all four assessment years. Management has confirmed that the company is filing appeals against these orders for A.Y. 2019-20, 2020-21, 2021-22, and 2024-25.

The financial breakdown of the penalty orders received by Bharat Seats Limited is as follows:


Management of Bharat Seats Limited stated that based on the company's own assessment and legal advice, there is a confident expectation of a favorable outcome in the appeals process. Consequently, no impact is envisaged on the company’s financials, operations, or other activities as a result of these penalty orders.

BHARATSE Stock Price Movement​

On Thursday, shares of Bharat Seats Limited edged higher to close at ₹186.61 after recording a 0.96% gain from the previous session. The stock traded within a range of ₹184.02 and ₹192.6, with 251,901 shares reported in total volume.