Munjal Auto Industries Limited — Important, 24-03-2025: General Updates

Munjal Auto Industries Limited has received a show cause notice from the Income Tax Department for the assessment year 2020-21, alleging excess deductions claimed under section 35(2AB) of ₹0.98 lakh and a disallowance under section 14A of ₹13.17 lakh. The Company, which has consistently upheld strong corporate governance and compliance, plans to appeal this notice. Though the immediate financial impact is uncertain, this situation may affect investor sentiment, introducing potential risks related to the ongoing scrutiny of tax matters while emphasizing the Company’s commitment to compliance and transparency.