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NEW DELHI: Revenue Tax Division has imposed a penalty of Rs 103.63 crore on Tata Chemical substances for violation associated to disallowance of curiosity. In a regulatory submitting on Thursday, Tata Chemical substances stated it has obtained an order from Nationwide Faceless Evaluation Centre, Revenue Tax Division, levying a penalty of Rs 103.63 crore beneath Part 270A of the Revenue Tax Act for disallowance of curiosity beneath part 36(1)(iii) of the Act. Primarily based on the deserves of the matter, prevailing regulation and the recommendation of the counsel, Tata Chemical substances stated it’s planning to enchantment towards this order earlier than the Nationwide Faceless Attraction Centre (appellate authorities). The corporate stated it fairly expects beneficial orders from the appellant authorities. Tata Chemical substances is a Tata group firm. Shares of Tata Chemical substances settled 0.31 per cent increased at Rs 1,035.10 per cent on the BSE.

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