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News Topical, Digital Desk : Suzlon Energy announced after the stock market closed on Thursday that it had received significant relief regarding a tax penalty in a case. In a filing to the exchange, Suzlon stated that CESTAT Mumbai had granted significant relief in a tax dispute case involving the company, completely waiving a penalty of ₹21.92 crore.
The company stated that the matter pertained to the categorization of designs and drawings imported between 2007 and 2011 under product development and purchase agreements. The company included this dispute in its integrated report for the quarter ended September 30, 2025, in which a total demand of ₹101.92 crore (tax, penalty, and interest) was made.
The company challenged the decision. The Commissioner of Central Excise and Service Tax, Pune-III Commissionerate, had at that time imposed a substantial penalty by imposing design service tax on these transactions. The company challenged this decision and filed an appeal with the Central Industrial Training Institute (CESTAT) on both merits and time limitations grounds. After the Supreme Court returned the matter to the Central Industrial Training Institute (CESTAT), on December 10, 2025, the Mumbai Central Industrial Training Institute (CESTAT) accepted the company's arguments and ruled in its favor, nullifying the entire penalty.
Stock Performance The company's stock closed at ₹52.05 on Thursday, up 0.99%. Over the past year, the company's stock has declined 21.28%.
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