KNR Constructions Limited has recently disclosed a significant regulatory update. The company has received a penalty order from the Income Tax authority. This report delves into the specifics of the order, its potential impact, and the company’s planned response. Understanding these developments is crucial for investors and stakeholders.
KNR Constructions Limited (KNRCL) announced on March 31, 2025, that it has received a penalty order under Section 271(1)(c) of the Income Tax Act, 1961. The order was issued by the Office of the Joint Commissioner of Income Tax, Central Circle, Central Range-2, Hyderabad. The penalty imposed amounts to ₹18,22,08,922 for the assessment year 2007-08. The alleged violation pertains to the furnishing of inaccurate particulars of income.
KNR Constructions Limited has assessed the situation and believes that the tax/penalty demand is not maintainable under the law 1 . The company plans to take appropriate steps, including filing an appeal before the appropriate forum within the stipulated timeframe 1 . KNRCL will continue to update the exchange on the outcome of these proceedings.
Point-wise Format:
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🚨 Penalty Order Received: KNR Constructions Ltd. received a penalty order.
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🏛️ Authority: Joint Commissioner of Income Tax, Central Circle, Central Range-2, Hyderabad.
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💰 Penalty Amount: ₹18,22,08,922.
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📅 Assessment Year: 2007-08.
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🧾 Violation: Furnishing inaccurate particulars of income.
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⚖️ Company’s Stand: The company believes the demand is not maintainable.
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📢 Action Plan: KNRCL will file an appeal.
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🔄 Updates: The company will provide updates on the proceedings.
Effect on Share Market
The immediate effect on the share market can be negative due to the uncertainty created by the penalty. Investors might react cautiously to the news, potentially leading to a decrease in the stock price. However, the company’s statement that the demand is not maintainable and that they will file an appeal could mitigate some of the negative impact. The long-term effect will depend on the outcome of the appeal and how the market perceives the company’s handling of the situation.
Best Suited Heading
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KNR Constructions Ltd. Faces ₹18 Crore Penalty Order
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Income Tax Penalty Imposed on KNR Constructions: Details Inside
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KNR Constructions to Appeal ₹18.22 Million Penalty Order
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KNR Constructions Ltd. Announces Penalty Order Under Income Tax Act
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Regulatory Filing: KNR Constructions Ltd. Reports Income Tax Penalty
4. (This point was empty in the original request)
5. Details About Company
KNR Constructions Limited is a construction company. Its registered office is at ‘KNR House’, 3rd & 4th Floor, Plot No.114, Phase-I, Kavuri Hills, Hyderabad. The company’s contact details include phone numbers: +91-40-40268759, 40268761/62, fax: 040-40268760, email: info@knrcl.com, and website: www.knrcl.com. The Corporate Identity Number (CIN) of the company is L74210TG1995PLC130199.
📉 Stock Market Disclaimer
Disclaimer: This post is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy/sell any stock or share. Investing in the stock market involves risk. Past performance is not indicative of future results. Always conduct your own research or consult a licensed financial advisor before making investment decisions.
