Automobile Products of India Ltd — Important, 31-03-2026: Company Update

The Income Tax authority rejected Automobile Products of India's appeal, upholding an income addition of Rs 10.60 crore for Assessment Year 2015-16. This decision results in a tax demand, including interest, of Rs 10.41 crore and a penalty of Rs 3.60 crore. The company is currently examining this order and plans to take appropriate legal steps. This development has a direct financial impact on the company due to the stated tax demand and penalty.