Deepak Fertilisers announces that the appeals filed by Mahadhan AgriTech Limited (MAL) for Assessment Years 2016-17 to 2018-19 have been allowed. A penalty amounting to Rs. 382.81 Crores has been dropped by the Commissioner of Income Tax (Appeals), Mumbai. The appeal for Assessment year 2015-16 amounting to Rs. 96.03 Crores is pending disposal.
Favorable Outcome on Appeals
Deepak Fertilisers has received positive news regarding the penalty orders against its subsidiary, Mahadhan AgriTech Limited (MAL). The Commissioner of Income Tax (Appeals), Mumbai, has allowed the appeals for Assessment Years 2016-17 to 2018-19. This development significantly reduces the financial burden on MAL.
Penalty Dropped
As a result of the successful appeals, the penalty amounting to Rs. 382.81 Crores has been dropped. The orders were issued on 13th January 2026 and 14th January 2026. This represents a substantial relief for the company and its subsidiary.
Assessment Year 2015-16
The appeal for Assessment year 2015-16, which amounts to Rs. 96.03 Crores, remains pending for disposal. Deepak Fertilisers will continue to monitor the situation and provide updates as they become available.
Source: BSE
