Logistics startup Delhivery has received has Rs 1.32 crore penalty order from the Income Tax department of Delhi. In an exchange filing, the company stated that it received the penalty order on June 28 from from Assessing Officer of Central Circle 18, Delhi.
As per the exchange filing, the order pertains to certain expenses of Rs 3.95 crore by the company during the financial year 2015-16. The company did not mention what were the said expenses.
What next?
Delhivery has expressed that it will not pay the penalty and will contest the order before the appropriate authority. Additionally, the company said that the order does not have any material impact on the company’s operations or financials.
What next?
Delhivery has expressed that it will not pay the penalty and will contest the order before the appropriate authority. Additionally, the company said that the order does not have any material impact on the company’s operations or financials.
The acquisition comes after a profitable fiscal year. The 14-year-old company turned profitable in FY25 as it posted a profit of Rs 72.6 crore. However company posted a modest 6 percent year-on-year growth in revenue.
