Income Tax Department Issues Penalty Demands to PTC India Limited Across Several Assessment Years

Income Tax Department Issues Penalty Demands to PTC India Limited Across Several Assessment Years​

PTC India Limited has received Notices of Demand from the Income Tax Department pertaining to penalties levied under Section 271(1)(c) of the Income Tax Act, 1961, for four different assessment years. The notices were issued on July 29, 2026.

The demands relate to the additions made by the Income Tax Department under Rule 8D. These penalties cover Assessment Years (AY) 2011-12, 2012-13, 2014-15, and 2015-16.

The penalty amounts received against PTC India Limited are detailed below:


Background of the Penalty Orders

The Income Tax Department had initially made additions totaling Rs. 22,96,99,152/ across various assessment years, including AY 2011-12, AY 2021-13, AY 2024-15 and AY 2015-16. Subsequently, the Company received favorable orders in March 2026, which reduced the original disallowance amount from Rs. 22,96,99,152/- to Rs. 62,22,564/-.

Based on this revised disallowance of Rs. 62,22,564/-, the penalties were issued under section 271(1)(c) of the Income Tax Act, 1961, corresponding to the four assessment years listed above.

Appeal Status and Financial Impact

The Company has indicated that these penalty orders are currently appealable. PTC India Limited intends to contest the demands by filing formal appeals before the Commissioner of Income Tax (Appeals).

Regarding the financial status, the Company stated that there is no material impact on its financials, operations, or other activities due to these Penalty Orders.

PTC Stock Price Movement​

PTC India Limited shares today edged higher, settling at ₹169.13 after gaining 0.71% in market trading. The company's stock closed with a volume of 402,504 shares traded during the day.