Everest Kanto Cylinder Limited had received Assessment Order for AY 2022-23 from Income Tax Department wherein the income of the Company was recomputed and expenses aggregating INR 15,29,72,525 were disallowed. Therefore, additional tax liability of INR 13,86,89,050 has been levied on the Company. The penalty under Section 270A of the Income-tax Act, 1861 (the Act) is being initiated separately by the department.