iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Gujarat HC grants Suzlon relief, stays ₹261 Crore fine

19 Apr 2024 , 11:43 AM

The Gujarat High Court has issued an ad interim stay on the ₹261 Crore penalty that the National Faceless Assessment Center, Income Tax Department, New Delhi, levied in March, according to a plea made today by Suzlon Energy Ltd.

The disallowance of the goodwill depreciation claim, the late provident fund payment, and the late employees' state insurance payment in 2015–16 (April–March) resulted in a penalty of ₹87.59 Crore.

The disallowance of the goodwill depreciation claim, the late provident fund payment, and the late payment of the employees' state insurance in 2016–17 resulted in a penalty of ₹172.76 Crore.

In response, the business filed petitions challenging the aforementioned penalty order.

The wind turbine manufacturer announced a 160% increase in its quarterly net profit for the October–December period over the same period last year.

The company's net profit for the same period last year was ₹69.8 Crore, while this year's net profit was ₹203.2 Crore. The quarter's financing expenses decreased by more than 80% from ₹86.3 Crore to ₹14.3 Crore from the previous year. Suzlon recently paid off its outstanding debts through a rights offering and QIP, becoming a debt-free corporation.

On the NSE, the price of Suzlon Energy's shares traded 2.92% lower at ₹39.95. Suzlon Energy's stock has increased by 7.5% so far this year, while its one-year return is 417%.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Gujrat
  • Suzlon Energy
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.