The Income Tax (I-T) department has imposed two separate fines on ACC Ltd, totalling ₹23.07 crore, which will be contested by the Adani Group firm before the appellate authorities.

The I-T department has slapped a penalty of ₹14.22 crore allegedly "for furnishing of inaccurate particulars of income" for Assessment Year 2015-16.

The department has also levied a penalty amounting to ₹8.85 crore "for under-reporting of income" for Assessment Year 2018-19.

"The company will be contesting both orders by filing appeals before the Commissioner of Income Tax (Appeals) within the prescribed timelines and, in parallel, will seek a stay on the penalty demands raised under the respective orders," ACC said in regulator filings on Thursday.

The company received these two demands on October 1, 2025,

See Full Page