PTC India Receives ₹11.8 Lakh Income Tax Penalty Notice for AY 2013-14; Plans to File Appeal

Power trading solution provider PTC India Limited (BSE: 532524 | NSE: PTC) has received a demand notice from the Income Tax Department imposing a penalty of ₹11,80,047 under Section 271(1)(c) of the Income Tax Act, 1961, for Assessment Year (AY) 2013-14.

Tax Dispute Details & Background

The penalty notice stems from tax disallowances made under Rule 8D of the Income Tax Rules for AY 2013-14:

Initial Addition: The Income Tax Department originally made additions amounting to ₹4,65,78,838 under Rule 8D.

Relief Obtained: In March 2026, PTC India secured a favorable order that significantly reduced the disallowance figure from ₹4,65,78,838 down to ₹12,12,357.

Penalty Imposed: On the remaining disallowance of ₹12,12,357, the tax authority issued a Notice of Demand under Section 156 of the Income Tax Act, levying a penalty of ₹11,80,047 under Section 271(1)(c).

Operational and Financial Impact

PTC India confirmed that it received the order on July 31, 2026. The company clarified the following positions regarding the order:

Appeals Process: The order is appealable, and PTC India intends to challenge the penalty by filing a formal appeal before the Commissioner of Income Tax (Appeals).

Materiality Impact: The company stated that the penalty order will have no material impact on its financial standing, day-to-day operations, or other corporate activities.

Shares of PTC India Limited was last trading in BSE at Rs. 175.55 as compared to the previous close of Rs. 169.15. The total number of shares traded during the day was 112110 in over 1753 trades.

The stock hit an intraday high of Rs. 175.90 and intraday low of 166.85. The net turnover during the day was Rs. 19270707.00.

Source : Equity Bulls

Keywords

PTCIndia INE877F01012 DemandNotice IncomeTax