Bharat Forge Limited has received an income tax appellate order from the Commissioner of Income-tax (Appeals), Income Tax Department, with a reduction of penalty to Rs. 85,29,661 for under-reporting of income for the financial year 2016-17. The order was passed under Section 250 of the Income Tax Act, 1961, dated May 11, 2026, and received by the company on May 12, 2026. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Details of the Appellate Order
The following table summarises the relevant details of the order as disclosed by the company under Regulation 30 of the Listing Regulations:
| Parameter: | Details |
| Authority: | Commissioner of Income-tax (Appeals), Income Tax Department |
| Order Type: | Order under Section 250 of the Income Tax Act, 1961 |
| Date of Order: | May 11, 2026 |
| Date of Receipt: | May 12, 2026 |
| Penalty Amount: | Rs. 85,29,661 |
| Violation: | Under-reporting of income under Section 270A of the Income Tax Act, 1961 |
| Financial Year: | 2016-17 |
| Next Step: | Appeal to be filed before ITAT, Pune |
Company’s Response and Financial Impact
Bharat Forge has indicated that the appellate order is subject to further appeal, and the company is in the process of filing an appeal before the Income Tax Appellate Tribunal (ITAT), Pune, against the said penalty. The company has explicitly stated that there is no material impact on its financials, operations, or other activities as a result of this order. The intimation was signed by Tejaswini Chaudhari, Company Secretary and Compliance Officer, on May 13, 2026.
