Top Stories
L&T Partners with PS Technology to Revolutionise Railways
6 mins read. August 2, 2024 at 12:45 PM
Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr
4 mins read. August 2, 2024 at 12:41 PM
Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr
4 mins read. August 2, 2024 at 12:36 PM

United Spirits Limited faces ₹ 31.9 crore tax penalty in subsidiary case
United Spirits Limited, the parent company of Palmer Investment Group Limited, has disclosed that its subsidiary has been levied a penalty of INR 31,91,98,742 under section 271(1)(c) of the Income Tax Act, 1961, for the financial year 2013-14. This development follows earlier intimation on August 14, 2023, regarding the ongoing proceedings.
The penalty is linked to transfer pricing adjustments, and the company has taken the matter to the High Court, citing merit and a strong case. United Spirits Limited intends to contest the penalty and file an appeal before the relevant tax authorities or courts in due course.
The parent company does not anticipate any significant financial repercussions from this penalty.
Related News

L&T Partners with PS Technology to Revolutionise Railways
6 mins read. August 2, 2024 at 12:45 PM

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr
4 mins read. August 2, 2024 at 12:41 PM

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr
4 mins read. August 2, 2024 at 12:36 PM

NBCC Arm Gets Two Construction Projects Worth Rs 443.61 Cr
4 mins read. August 2, 2024 at 12:33 PM
Download app
Access BlinkX
everywhere
across device
