PTC India Limited Faces Income Tax Penalty Notice for Assessment Year 2013-14
PTC India Limited has received a Demand Notice from the Income Tax Department regarding a penalty assessed under Section 271(1)(c) of the Income Tax Act, 1961, pertaining to Assessment Year (AY) 2013-14. The company received the notice on July 31, 2026.The penalty relates to additions made by the Income Tax Department under Rule 8D for AY 2013-14. Initially, the department had identified additions amounting to Rs. 4,65,78,838/-. Subsequently, PTC India Limited secured a favorable order in March 2026, which reduced this disallowance from Rs. 4,65,78,838/- to Rs. 12,12,357/-. Based on the amount of the reduced disallowance, the company was issued a Penalty Order amounting to Rs. 11,80,047/-.
The company confirmed that it will contest this penalty order and plans to file a formal appeal before the Commissioner of Income Tax (Appeals).
Details regarding the tax assessment action are summarized in the table below:
| Particulars | Details |
|---|---|
| Authority Issued Notice | Income Tax Department |
| Nature of Action | Penalty Notice under Section 271(1)(c) of the Income Tax Act, 1961 |
| Assessment Year (AY) | 2013-14 |
| Total Penalty Amount | Rs. 11,80,047/- |
| Original Addition (Rule 8D) | Rs. 4,65,78,838/- |
| Reduced Disallowance | Rs. 12,12,357/- |
PTC India Limited stated that the penalty order has no material impact on the financials or operations of the company. The matter is currently appealable, and the company is proceeding with formal appeals.
PTC Stock Price Movement
PTC India Limited shares gained on Friday, finishing in the green after closing at ₹175.52, up 3.74%. The stock saw a busy session, with over 2.19 million shares traded during the market close.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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