Shriram Properties faces Rs 4.46 billion penalty
Real Estate

Shriram Properties faces Rs 4.46 billion penalty

Shriram Properties reported that it had received a penalty order under section 270A totalling Rs 4.46 billion from the deputy commissioner of Income Tax, Central Circle 1 (4), Chennai.

According to the regulatory filing, the company stated that the penalty order under section 270A for the financial year 2017-18 regarding income tax proceedings under section 153C concerning the sale of shares in Shriram Properties and Infrastructure, a subsidiary of the company, had been issued by the deputy commissioner of Income Tax, Central Circle 1 (4) Chennai.

The company further explained that this penalty order pertained to a matter already under consideration by the Madras High Court, which had previously issued an order directing the department to maintain the 'status quo'.

Shriram Properties reported that it had received a penalty order under section 270A totalling Rs 4.46 billion from the deputy commissioner of Income Tax, Central Circle 1 (4), Chennai. According to the regulatory filing, the company stated that the penalty order under section 270A for the financial year 2017-18 regarding income tax proceedings under section 153C concerning the sale of shares in Shriram Properties and Infrastructure, a subsidiary of the company, had been issued by the deputy commissioner of Income Tax, Central Circle 1 (4) Chennai. The company further explained that this penalty order pertained to a matter already under consideration by the Madras High Court, which had previously issued an order directing the department to maintain the 'status quo'.

Next Story
Infrastructure Transport

NF Railway Launches Girder on World’s Tallest Pier Bridge in Manipur

The Northeast Frontier Railway (NFR) has reached a significant engineering milestone by successfully completing the girder launch on the iconic Noney Bridge in Manipur.Regarded as an engineering marvel, the Noney Bridge is recognized as the world’s tallest railway pier bridge. It forms a crucial part of the 111 km long Jiribam-Imphal railway line project.Recently, the final span of the bridge was successfully erected, marking the completion of all eight spans of this monumental infrastructure venture.Kapinjal Kishore Sharma, Chief Public Relations Officer of NFR, stated that this accomplishm..

Next Story
Infrastructure Urban

Cube Highways Trust Reports Rs 34.53 Bn Total Income in FY25

Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors, concluded its second financial year post-listing on a strong note by reporting a total consolidated income of Rs 34.53 billion for the financial year 2025, marking a 12.3 percent year-on-year (YoY) increase.According to the official media release, Cube InvIT posted a consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) of Rs 2,380 crore, reflecting a 21.7 percent YoY growth. During the year, traffic volumes increased by 6.2 percent, while the Asset Under Management (AUM) grew 25 percent to ..

Next Story
Infrastructure Transport

New Flyover to Ease Traffic on Hyderabad’s Busiest Road

To improve urban connectivity and reduce traffic congestion in the city, the Greater Hyderabad Municipal Corporation (GHMC) will undertake the construction of a two-lane unidirectional flyover at NFCL Junction in Banjara Hills, along with a two-lane unidirectional underpass and a three-lane unidirectional flyover at TV9 Junction, as part of the state government’s prestigious Hyderabad City Innovative and Transformative Infrastructure (H-CITI) programme.The NFCL Junction flyover will be a two-lane unidirectional structure extending from Banjara Hills Road No. 3 towards GVK Mall. It is planned..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?