Income Tax Appeal Upholds Penalty Against Chambal Fertilizers & Chemicals Limited
Chambal Fertilizers & Chemicals Limited has received an order from the Commissioner of Income-tax (Appeals) in the matter concerning a penalty levied under the Income Tax Act, 1961. The decision upholds the penalty against the company following the assessment by the Income Tax Department.The order specifies that a penalty of Rs. 96,86,205/- has been upheld against Chambal Fertilizers & Chemicals Limited. This action stems from an earlier order-in-original dated 09/03/2026 passed by the Assessment Unit, Income Tax Department.
The details regarding the tax authority and the penalty are summarized below:
| Particulars | Detail |
|---|---|
| Authority | Commissioner of Income-tax (Appeals), Income Tax Department |
| Date of Order Receipt | 07/08/2026 |
| Penalty Amount | Rs. 96,86,205/- |
| Relevant Section | u/s 271(1)(c) of the Income Tax Act, 1961 |
The specific violation addressed in the order relates to the disallowance of provision for loss of diminution in value of investments and expenses incurred on construction of an anicut.
Regarding the implications of this penalty, Chambal Fertilizers & Chemicals Limited stated that there is no impact on the financial, operations or other activities of the Company, save for the amount of the penalty levied. The company maintains that it has a strong case on merits and intends to challenge the above order before the appropriate authority.
CHAMBLFERT Stock Price Movement
Shares of Chambal Fertilizers & Chemicals Limited shed 1.79% on Friday, with the stock settling at ₹450.7 amid market trading. The equity saw a volume of 300,321 shares recorded during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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