Reliance Power Limited Fined Rs 2,44,93,394 by Income Tax Department over Transfer Pricing Adjustment
Reliance Power Limited has been levied a penalty of Rs 2,44,93,394/- by the Income Tax Department. The action relates to the Assessment Year 2016-17 and pertains to alleged violations concerning disallowance under Section 14A read with Rule 8D and a transfer pricing adjustment.The penalty was issued by the Income Tax Department - Assessment Unit (National Faceless Penalty Centre). Reliance Power received the official order dated June 29, 2026, on July 02, 2026.
The levy of Rs 2,44,93,394/- was imposed under Section 271(1)(c) of the Income-tax Act, 1961 (the 'Act').
Regarding the impact on its activities, Reliance Power stated that there is no effect on the Company's financial or operational status apart from the amount of Rs 2,44,93,394/- that is due as a penalty. The company plans to appeal against this Order before the Appellate Authorities and reasonably expects a favorable decision in the matter.
RPOWER Stock Price Movement
Shares of Reliance Power Limited slipped by 2.17% on Thursday, settling at ₹26.50 after shedding ₹0.59 from the previous close. The equity saw significant volume, with over 71.38 million shares being traded during the session.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.