Bharat Forge has received an order from the Commissioner of Income-tax (Appeals) regarding its tax assessment for the financial year 2016-17. The authority has reduced the penalty for under-reporting of income to Rs. 85,29,661. The company maintains that there is no material impact on its operations or financial standing and plans to contest this decision by filing an appeal before the Income Tax Appellate Tribunal (ITAT) in Pune.
Details of the Tax Order
On May 12, 2026, Bharat Forge received an order issued by the Commissioner of Income-tax (Appeals) dated May 11, 2026. This order pertains to the assessment year 2016-17 and concerns a penalty levied for the under-reporting of income. Following the review, the tax authority has finalized the revised penalty amount at Rs. 85,29,661.
Company Response and Next Steps
While the company acknowledges the order, it has decided to challenge the decision further. Bharat Forge is currently in the process of preparing an appeal to be filed with the ITAT, Pune. Management has stated that the outcome of this legal process is not expected to have a material impact on the company’s financials, ongoing operations, or general business activities.
Source: BSE
