Income Tax department imposes ₹4.68 crore penalty on Larsen & Toubro Ltd regarding L&T Hydrocarbon Engineering Limited.
Income Tax department imposes a penalty of ₹4.68 crore on Larsen & Toubro Ltd, according to a regulatory filing. The penalty is in connection to the tax proceedings of L&T Hydrocarbon Engineering Limited, a wholly-owned subsidiary, which was merged with the company on April 1, 2021. L&T says it will file an appeal against this order as it "does not agree with this levy" and expects a favourable outcome at the higher forum.
June 02, 2024
4 Articles