Deepak Fertilisers Subsidiary Faces Rs 226 Cr Income Tax Demand

New Delhi, Mar 31 (PTI) Deepak Fertilisers And Petrochemicals Corporation Ltd on Monday said its subsidiary has received a demand notice of Rs 226.32 crore from the Income Tax Department for assessment years 2017-18 and 2018-19.

In a regulatory filing, the company informed that the order imposing penalty has been passed against its wholly owned subsidiary Mahadhan AgriTech Ltd.

The demand notice dated March 30, 2025, has been issued by Assistant Commissioner of Income Tax- Central Circle, Mumbai.

The total penalty demands under various sections of the Income Tax Act 1961 amount to Rs 226.32 crore for assessment years 2017-18 and 2018-19, it added.

Deepak Fertilisers said the company is in the process of filing an appeal against the present penalty orders.

The company is of the opinion that it has a strong case on merits and confident of succeeding in getting these demands quashed in the appellate proceedings.

Last week, the company received Rs 252.52 crore demand notice of Rs 252.52 crore from Income Tax Department against Mahadhan AgriTech for assessment years 2015-16 and 2016-17.