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| Swaraj Engines Ltd - Swaraj Engines Limited - Updates |
 Share Back |
| (16 Feb 2024) |
| With reference to the captioned subject, we would like to inform you that the Company has received an order from the Assessment Unit, Income Tax Department imposing a penalty u/s 271(1)(c) of Income Tax Act, 1961 amounting to Rs 2,40,671/- in relation to the Assessment Year 2016-17. On the above, it may be noted that the Company has already received the ITAT Order for the said Assessment of Quantum proceedings in favour of the Company and accordingly, an appeal / rectification request will be filed against the said penalty Order and Company is hopeful of a favourable outcome at the appellate / Assessing Officer level and does not reasonably expect the said Order to have any material financial impact on the Company. The Order dated 8th February 2024 has been received by the Company on 15th February 2024 around 08:57 P.M. The details of the above Order, as required under Clause 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July, 2023 is enclosed as Annexure A.You are requested to kindly take note of the above. |
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