M&M, Aztec get tax notices

In the case of M&M, the demand of Rs 216 crore as differential duty and penalty of Rs 88.08 crore largely relate to a dispute regarding M&M’s Commander vehicle as a 10-seater in 1991-96,it told the BSE. The company said it will appeal against the demand.

The excise department had disputed the classification. ‘‘The excise demand is unsustainable as it is contrary to the findings of two excise commissioners, besides being contrary to the certificate issued by The Automotive Research Association of India,’’ the company said.

An M&M company spokesman said there was ‘‘no immediate liability’’ to the company and that it would appeal the claims. While this classification was prima facie accepted by the jurisdictional authorities, the Excise Department disputed the classification on the ground that the 10-seater criteria were not met under the Motor Vehicles Act and Rules.

Aztec Software has informed BSE that it has received a notice from the I-T authorities for payment of Rs 9.150 crore as taxes under the I-T Act, 1961 due to adjustments made to its transfer pricing under Section 92C of the I-T Act, 1961 for the year 2001-02.