5001142026-07-145001142026-07-14ActionsTakenOrOrdersPassedDomain15001142026-07-14ActionsTakenOrOrdersPassedDomain1PersonsAgainstWhomActionsTakenOrOrdersPassedDomain15001142026-07-14ActionsTakenOrOrdersPassedDomain25001142026-07-14ActionsTakenOrOrdersPassedDomain2PersonsAgainstWhomActionsTakenOrOrdersPassedDomain15001142026-07-14SignatoriesDomain1iso4217:INRxbrli:pureTITANTITAN COMPANY LIMITED500114NOTLISTEDINE280A01028NewAction(s) taken or orders passed (sub-para 20)false2026-06-2609:00:002026-07-14Imposition of fine or penaltyStatutory AuthorityIncome Tax Department1Listed Entity (Self)TITAN COMPANY LIMITEDReceived penalty order from Income Tax Department in respect of income tax assessment for Assessment Years 2017-18.Penalty Order under section 270A of the Income Tax Act, 1961 for Assesment Year 2017-182026-06-26Penalty order from Income Tax Department for adjustment made on the assessment order as under reporting of income.Assesment Year 2017-18.There is no material impact on the financials, operations or other activities of the Company due to this penalty.The delay in filing the intimation was due to the Company's internal review of the order and evaluation of the appropriate next steps5666860In terms of section 270A(7) of the Income-tax Act, 1961, penalty at the rate of 50% of the tax payable on the under-reported income is leviable. The under-reported income is determined at Rs. 3,27,48,845/-. I am, therefore, satisfied that this is a fit case for levy of penalty under section 270A of the Income-tax Act. Accordingly, penalty of Rs. 56,66,860/- being 50% of the tax payable on the under-reported income of Rs. 3,27,48,845/-, is hereby imposedunder section 270A(7) of the Act.It is held that the assessee has under-reported its income within the meaning of section 270A(2)(a) of the Income-tax Act, 1961. Consequent to the appellate proceedings, the difference between the income returned and the income finally assessed stands at Rs. 3,27,48,845/-, representing the excess weighted deduction claimed by the assessee under section 35(2AB) which was not found allowable in the final determination of income.The Company is in the process of filing an appeal against the said Order.Imposition of fine or penaltyStatutory AuthorityIncome Tax Department1Listed Entity (Self)TITAN COMPANY LIMITEDReceived penalty order from Income Tax Department in respect of income tax assessment for Assessment Years 2019-20.Penalty Order under section 270A of the Income Tax Act, 1961 for Assesment Year 2019-20.2026-06-26Penalty order from Income Tax Department for adjustment made on the assessment order as under reporting of income.Assesment Year 2019-20.There is no material impact on the financials, operations or other activities of the Company due to this penaltyThe delay in filing the intimation was due to the Company's internal review of the order and evaluation of the appropriate next steps36938578The assessee has under-reported income arising on account of the disallowance of Education Cess. Therefore, a penalty of Rs. 3,69,38,578/-, being 50% of the tax payable on the under-reported income as computed above, is hereby levied under section 270A of the Income-tax Act, 1961. Demand notice and challan are being issued separately.It is held that the assessee has under-reported its income the provisions of section 40(a)(ii) as clarified by Explanation 3 inserted by the Finance Act, 2022 with retrospective effect, The deeming provisions contained in section 155(18), and the legal position affirmed by the Hon’ble Supreme Court in the case of JCIT v. Sesa Goa Ltd., it is held that the assessee had claimed inadmissible deduction of Education Cess amounting to Rs. 21,14,15,856/- in the return of income. Such claim falls within the ambit of under-reported income for the purposes of section 270A of the Income-tax Act, 1961The Company is in the process of filing an appeal against the said Order.Dinesh ShettyGeneral Counsel & Company Secretary2026-07-14Bangalore