Deepak Fertilizers: Rs 226 Crore Income Tax Notice Slapped - Details

Deepak Fertilizers And Petrochemicals Corporation said on Monday that its subsidiary Mahadhan AgriTech Ltd has received a demand notice of Rs 226.32 crore from the Income Tax Department for the assessment years 2017-18 and 2018-19.

The company notified in a regulatory filing that the order imposing penalty has been passed against the wholly owned subsidiary.

The Assistant Commissioner of Income Tax- Central Circle, Mumbai issued the demand notice dated March 30, 2025 and the total penalty demands under various sections of the Income Tax Act 1961 amount to Rs 226.32 crore for the assessment years 2017-18 and 2018-19.

The parent company said that it is in the process of filing an appeal against the present penalty orders and is of the opinion that it has a strong case on the basis of merits and is confident of succeeding in getting these demands quashed in the appellate proceedings.

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

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