Sattva Engineering Construction Limited receives Penalty Order from Income Tax Department
Sattva Engineering Construction Limited, a company that was formerly known as Cattya Fnainperina Construction Private limited, has received a Penalty Order/Computation Sheet from the Income Tax Department regarding its assessment for Assessment Year 2022-23.The communication was received by the Company on June 5, 2026, from the Income Tax Department - National Faceless Assessment Centre (NFAC). The order is related to Section 271B of the Income-tax Act, 1961.
Under the said penalty order, a total penalty of ₹1,50,000 has been levied on Sattva Engineering Construction Limited for Assessment Year 2022-23.
The details of the Penalty Order and the associated assessment are summarized below:
| Particulars | Details |
|---|---|
| Communication Received | Penalty Order / Computation Sheet under Section 271B of the Income-tax Act, 1961 |
| Issuing Authority | Income Tax Department - National Faceless Assessment Centre (NFAC) |
| Date of Receipt | June 05, 2026 |
| Assessment Year | 2022-23 |
| Penalty Imposed | ₹1,50,000 |
The penalty was imposed by the Income Tax Department in connection with requirements prescribed under the Income-tax Act for Assessment Year 2022-23. The financial implication arising from this order is limited to the penalty amount of ₹1,50,000.
Regarding the penalty and restriction imposed pursuant to the communication, the Company has initiated a review process. Sattva Engineering Construction Limited stated that it is evaluating appropriate legal remedies, which include filing an appeal or representation before the relevant authority as necessary.
SATTVAENGG Stock Price Movement
Shares of Sattva Engineering Construction Limited slipped by 3.62% on Friday, settling at ₹62.60 amid selling pressure. The stock saw a trading volume of 11,200 shares 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.