ACC Ltd fined ₹23.07 crore for past tax issues; plans to challenge penalties.

The Income Tax department has imposed a total penalty of ₹23.07 crore on ACC Ltd for alleged tax discrepancies in 2015-16 and 2018-19, prior to its 2022 acquisition by the Adani Group. Penalties of ₹14.22 crore and ₹8.85 crore were levied for inaccurate income reporting and under-reporting, linked to disallowed expenses. ACC plans to challenge both orders and seek stays, stating the rulings won’t impact its financial operations. The company reported ₹21,762 crore in revenue and sold 39 million tonnes of cement in FY25.