New Delhi: Maruti Suzuki, a number one car producer of India, has acquired a requirement discover giving impact to the Revenue Tax Appellate Tribunal’s (ITAT) order and a present trigger discover for initiation of penalty proceedings from Revenue Tax authority on April 1, 2024.
As per the small print of the alleged violation stated to have dedicated, Maruti Suzuki stated, “The corporate has acquired a requirement discover giving impact to the ITAT’s order for FY 2009-10 whereby sure additions / disallowances have been made pursuant to which demand of INR 238.72 crore has been raised on the Firm.”
The Firm has acquired a Present Trigger Discover for initiation of penalty proceedings with respect to the above additions, said Maruti Suzuki stated in a regulatory submitting.
The Firm additional added that it will likely be submitting an attraction earlier than the CIT (Appeals) in opposition to this demand and penalty proceedings (if any). Nevertheless, there isn’t a main impression on the monetary, operation or different actions of the corporate on account of this order, the corporate stated.
