Adani Group's ACC slapped with ₹23 crore income tax penalty
ACC Ltd, now part of the Adani Group, just got hit with a ₹23 crore penalty from the Income Tax Department for allegedly misreporting income way back in 2015-16 and 2018-19.
The company says it will appeal and try to put these penalties on hold.
Penalties linked to under-reporting and disallowed expenses
The tax department claims ACC under-reported income—₹14.22 crore penalty for 2015-16 after disallowing ₹49 crore in expenses, and another ₹8.85 crore for 2018-19 linked to under-reporting by nearly ₹13 crore.
ACC to challenge notices, clarify pre-Adani takeover
ACC received these notices on October 1, 2025, and plans to challenge them with the tax authorities.
They also clarified that this all happened before Adani took over, so it won't mess with their current finances.
Adani bought ACC for $6.4 billion in September 2022
Adani bought ACC from Holcim back in September 2022 for $6.4 billion.
Fast forward to FY25: ACC clocked in ₹21,762 crore revenue and sold 39 million tons of cement.
Their stock nudged up a bit today, trading at around ₹1,835 on the BSE.