**I-T Department Slaps ₹23 Crore Fine on Adani Group’s ACC Ltd**
*By Akash Pandey | October 3, 2025, 5:38 PM*
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The Income Tax (I-T) department has imposed a substantial penalty of ₹23.07 crore on ACC Ltd, a subsidiary of Ambuja Cements under the Adani Group. The penalty relates to issues identified in two assessment years and is split into two components:
– ₹14.22 crore for “furnishing of inaccurate particulars of income” for the Assessment Year (AY) 2015-16
– ₹8.85 crore for “under-reporting of income” for AY 2018-19
### Legal Action: ACC Plans to Challenge Penalties
ACC Ltd has announced its intention to challenge both penalty orders by filing appeals before the Commissioner of Income Tax (Appeals). The company also plans to seek a stay on these penalty demands as per the relevant legal provisions.
Despite receiving these penalty notices on October 1, 2025, ACC has assured stakeholders that these demands will not impact its ongoing financial operations or activities.
### Corporate Transition: Penalties Pre-Date Adani Group Acquisition
It’s important to note that these penalties pertain to the period before ACC Ltd became part of the Gautam Adani-led group. In September 2022, the Adani Group acquired Ambuja Cements and its subsidiary ACC Ltd from Switzerland’s Holcim Group in a deal valued at $6.4 billion.
The I-T department invoked section 271(1)(c) of the Income Tax Act regarding the AY 2015-16, highlighting disallowed expenses amounting to ₹49.25 crore and alleging that inaccurate particulars of income were furnished to that extent.
For AY 2018-19, the department disallowed expenditure claims of ₹12.79 crore and alleged under-reporting of income to this extent. Consequently, a penalty of ₹8.85 crore was levied, calculated at 200% of the tax effect of these disallowances.
### Financial Overview: ACC’s Performance Remains Strong
Despite these tax penalties, ACC’s latest annual report for FY25 indicates robust financial health. The company recorded revenues from operations totaling ₹21,762 crore, with cement sales volume reaching 39 million tonnes.
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**Summary:**
The Income Tax department’s penalties against ACC Ltd, related to pre-Acquisition financial years, are being challenged by the company and currently do not affect its financial stability or operations under the Adani Group.
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