The Income Tax department has imposed two separate fines totaling Rs 23.07 crore on ACC Ltd, an Adani Group firm. These penalties, for "inaccurate particulars of income" (AY 2015-16) and "under-reporting of income" (AY 2018-19), will be contested by ACC before appellate authorities. The company stated these demands, from before Adani's acquisition, will not impact its financial activity.
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