MRF Limited Receives Penalty Orders from Income Tax Department
MRF Limited announced that it received penalty orders from the Deputy Commissioner of Income Tax on March 24, 2026.The company received a penalty of Rs. 37,15,4381 related to AY 2013-14, following an Appellate Order that confirmed a disallowance of Rs. 0.57 crores concerning litigation and related disputes. Additionally, a penalty of Rs. 7,04,4761 was received pertaining to AY 2015-16, after an Appellate Order restricted the disallowance under Section 14A to Rs. 0.10 crores against a prior disallowance of Rs. 34.83 crores. A further penalty of Rs. 11,25,192 was received related to AY 2016-17, stemming from an Appellate Order's confirmation of a disallowance under Section 14A of Rs. 0.16 crores.
The total financial impact of these penalties amounts to Rs. 37,15,4381, Rs. 7,04,4761, and Rs. 11,25,192 respectively. The company plans to file appeals with the CIT (A) against each of these penalty orders.
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