Parag Milk Foods Limited has received penalty orders from the Central Range 2, Pune of the Income Tax Department for violations under Section 269T of the Income Tax Act, 1961. The company was fined ₹0.89 crore for the assessment year 2020-21 and ₹1.50 crore for the assessment year 2022-23.
The penalty was levied under Section 271E, and the company has stated that it intends to appeal against these orders. Despite the financial impact of these penalties, the company has noted that there is no effect on its operations or other activities.
For the latest stock details, Parag Milk Foods’ shares are trading at ₹229.00 today, with an increase of 2.64% from the previous close of ₹223.10. The stock range today has fluctuated between ₹215.10 and ₹234.25, with a market cap of ₹54.57 billion.
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