Munjal Showa Ltd Receives Tax Demand Notice for Assessment Year 2015-16
Munjal Showa Limited, a manufacturer of world-class struts, shock absorbers, front forks, gas springs, and window balancers in collaboration with Astemo Limited (formerly known as Hitachi Astemo Limited), has confirmed receiving a demand notice from the Income Tax Department.The company received the tax demand notice and order on April 12, 2026. The notice pertains to the assessment year 2015-16.
The Income Tax Department has determined a total penalty of INR 37.35 Lakhs. This penalty relates to the disallowance of excess MAT credit and has been levied under the Income Tax Act, 1961, for alleged furnishing of inaccurate particulars of income.
Munjal Showa Limited stated that the company plans to challenge the order based on strong merits by filing an appeal before the Commissioner of Income Tax Appeals.
The details of the tax assessment order are summarized below:
| Detail | Description |
|---|---|
| Authority | Government of India, Ministry of Finance, Assessment Unit, Income Tax Department, faceless assessment |
| Nature of Action | Notice of demand under section 156 of the Income-Tax Act, 1961 and Order 143(3) r.w.s 271(1)(c) of the Income-tax Act, 1961 |
| Date of Order Receipt | April 12, 2026 |
| Financial Impact | Total Penalty levied: INR 37.35 Lakhs |
| Violation Cited | Disallowance of excess MAT credit and penalty for alleged furnishing of inaccurate particulars of income for A.Y. 2015-16. |
MUNJALSHOW Stock Price Movement
Munjal Showa Limited shares today slipped by 3.63% to settle at ₹120.56. The stock finished on a volume of 83,747 shares, having traded within a day range of ₹119.1 to ₹122.97.Source:
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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.