Madhav Copper Limited Updates Status of Income Tax Appeal Against Section 270A Penalty
Madhav Copper Limited provided an update regarding its ongoing appeal concerning a penalty order received under Section 270A of the Income Tax Act, 1961. The update details the progression of the matter before the tax authorities.The company had previously informed about filing an appeal on April 21, 2025, with the Joint Commissioner (Appeals) or the Commissioner of Income Tax (Appeals) against the aforementioned penalty order. This initial matter had been highlighted in a disclosure dated August 6, 2025.
The company recently received a notice of hearing dated March 16, 2026, from the office of the Joint Commissioner of Income Tax (Appeals). In response, Madhav Copper Limited filed its reply and supporting documents on March 23, 2026, adhering to prescribed timelines.
As of the latest report, the tax matter remains under consideration before the concerned authority and is sub judice. Madhav Copper Limited stated that it is pursuing the matter diligently and does not anticipate any material adverse impact at this stage. The company noted that any further updates regarding the appeal will be disclosed in accordance with applicable regulations.
MCL Stock Price Movement
Madhav Copper Limited shares slipped by 1.23% on Friday, closing the session at ₹63.5. The equity settled on a total traded volume of 22,702 shares, marking a downturn for the stock.Source:
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