PPS Motors - Mahindra's Largest Dealer in India - Inaugurates New Dealership in Bengaluru
The latest facility, strategically located at Kanakapura Road, offers access to a large residential area having high potential buyers and sits at the heart of one of area's key automotive hubs. This 9,500 sq. ft. facility can display 5 vehicles together and is designed to provide holistic customer experience - offering Mahindra's full range of Passenger Vehicles (ICE & EV). With a modern colour palette, dramatic lighting, intuitive technology and a seamless interaction, every element of the space in the dealership showroom is crafted to evoke the sense of progressive design, intelligent innovation and refined elegance. The customers will step into an immersive environment complete with a showcase of Mahindra's breakthrough technologies - from the INGLO Electric Origin architecture to MAIA, the fastest automotive mind in the world along with Hero features.
This year PPS Group has strengthened its extensive footprint in India and continued to hold its position as Mahindra's largest sales and after-sales partner in India. Currently, group's 137 Mahindra touchpoints are spread across in six states – Karnataka, Maharashtra, Andhra Pradesh, Telangana, Kerala, and Tamil Nadu recording a sale of over 37,000 Mahindra vehicles in FY 2025 alone. Currently, PPS Mahindra operates 12 Mahindra touchpoint in Karnataka, comprising 8 showrooms and 4 Servicing Workshops. The group has sold over 6,500 Mahindra vehicles in Karnataka in FY 2025.
Commenting on the inauguration, Mr. Rajiv Sanghvi, Managing Director, PPS Motors, said, "We are delighted to inaugurate our latest flagship Mahindra showroom in Bengaluru, further strengthening our enduring partnership with one of India's fastest-growing automotive brands. Our journey of nearly seven decades with Mahindra witnessed building a relationship rooted in trust, shared vision, and customer-centricity. Our deep understanding of evolving customer needs, combined with Mahindra's advanced and future-ready vehicle portfolio, enables us to consistently deliver a best-in-class ownership experience."
As per industry reports, Karnataka witnessed a 25 per cent increase with a total of around 49.16 lakhs cars in 2024-25 compared to 39.37 lakh cars in 2020-21 having added 9.79 lakhs cars in these 4 years.
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Time of India
13 hours ago
- Time of India
India–UK CETA set to boost auto industry through tariff-free access, mobility gains
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Economic Times
13 hours ago
- Economic Times
Taxpayer wins Rs 1.4 lakh penalty case despite claiming false income tax deductions to reduce income by 50%; Know the details
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Patil assured them that he was an expert in tax law and could legally calculate a lower tax, leading to a refund of the TDS deducted by their employer. Shinde's lawyers told ITAT Pune: 'The assessee was unaware about the contents of the Income Tax Return (ITR) filed by Patil & truly believed that the returns are filed legally as per the provisions of the Income Tax Act.' Shinde also informed the court that as soon as he found out about this illegal act of claiming false tax deductions, he had filed a complaint in the Economic Offence Wing, Maharashtra Police against Patil. Moreover, Shinde also paid the full tax amount plus interest, just like he was supposed to, without claiming any bogus tax deductions. However, the income tax department stated that even though he returned the owed tax with interest, he should still face penalty for committing this offence and for not voluntarily submitting a revised first, Shinde filed an appeal against the penalty of Rs 1.4 lakh that the tax department slapped on him with the Commissioner of Appeals (CIT (Appeals)). However, CIT (Appeals) rejected the appeal, leading Shinde to take his case to ITAT Pune. There, he won the case and the entire penalty of Rs 1.4 lakh was cancelled. The main reason why Shinde won this case is because ITAT Pune recognized his good behavior. Shinde, pointed out the illegal actions of his tax consultant (Patil) and also returned the full amount of the income tax owed, along with interest, just as the law required. ITAT Pune said: '....It is found that when the notice under Section 148 was issued, the appellant (Shinde) has disclosed his correct income & paid the due tax before issue of notice. We also find that the Assessing Officer of Income Tax Department has accepted the return (ITR) as it is which was furnished by the appellant (Shinde) in response to the notice u/s 148. We cannot accept the contention of Ld. DR (income tax department lawyer) that the revised return (revised ITR) was not voluntary, therefore the penalty u/s 270(A) of the Act is inevitable….'Check out the info below to find out why and under what circumstances Shinde managed to win this income tax penalty case despite claiming false tax deductions to declare lower income and pay less tax. How did this income tax penalty case for claiming false tax deductions start? According to ITAT Pune judgement dated May 8, 2025. Here's the timeline of events: FY 2017-18: Patil filed Shinde's ITR declaring taxable income of Rs 4 lakh (407,090) by claiming multiple income tax deductions. Patil filed Shinde's ITR declaring taxable income of Rs 4 lakh (407,090) by claiming multiple income tax deductions. May 28, 2019: Shinde came to know that Patil claimed excess tax refund by claiming many false tax deductions. He immediately paid back the due tax with interest. However, the revised ITR could not be filed voluntarily since the date to file one was over. Shinde came to know that Patil claimed excess tax refund by claiming many false tax deductions. He immediately paid back the due tax with interest. However, the revised ITR could not be filed voluntarily since the date to file one was over. February 2020: The Income Tax Department Assessing Officer (AO), on the basis of information received from the Income Tax Officer, (Investigation), that Shinde has claimed excess deductions, initiated proceeding under Section 147 after obtaining approval from the authorities and accordingly, a notice under Section 148 was issued. The Income Tax Department Assessing Officer (AO), on the basis of information received from the Income Tax Officer, (Investigation), that Shinde has claimed excess deductions, initiated proceeding under Section 147 after obtaining approval from the authorities and accordingly, a notice under Section 148 was issued. March 11, 2020: Shinde filed an ITR in response to notice under Section 148, declaring taxable income of Rs 8 lakh (8,32,990). Shinde filed an ITR in response to notice under Section 148, declaring taxable income of Rs 8 lakh (8,32,990). March 2, 2021: The Income Tax Department completed the assessment of Shinde's ITR under Section 147 by accepting it. The Income Tax Department completed the assessment of Shinde's ITR under Section 147 by accepting it. September 12, 2021: The Income Tax Department Assessing Officer (AO) imposed a penalty of Rs 1.4 lakh (1,46,760) under Section 270A(8) for under-reporting of income in consequence of misreporting. Shinde filed an appeal in CIT (A) against this penalty order. The Income Tax Department Assessing Officer (AO) imposed a penalty of Rs 1.4 lakh (1,46,760) under Section 270A(8) for under-reporting of income in consequence of misreporting. Shinde filed an appeal in CIT (A) against this penalty order. September 27, 2024: CIT (Appeals) dismissed Shinde's appeal and confirmed the penalty of Rs 1.4 lakh (1,46,760) imposed u/s 270A(8). It is this order of CIT (Appeals) against which Shinde filed an appeal before ITAT (Pune). Also read: Income Tax Bill 2025: Income from house property taxation related two key amendments suggested by select committee, know the impact ITAT Pune's investigation found that Shinde was cheated by Patil to conduct this tax fraud According to the judgement order, here's what ITAT Pune said:(No part of the judgement is altered and the same is presented below as it is) 'We find that the assessee (Shinde) is a salaried employee & belongs to a technical background. The return (ITR) of most of the employees of CEAT LTD, Bosch Company, HAL & M & M including that of the assessee (Shinde) was filed by a tax consultant namely Patil. We further find that the assessee (Shinde) came to know from other employees in the company that Patil with his expertise is able to legally calculate lower tax, resulting in a refund of TDS deducted by the employer. The assessee (Shinde) was unaware about the contents of the Income Tax Return filed by Patil & truly believed that the returns (ITR) are filed legally as per the provisions of the Income Tax Act. The assessee being from technical background does not understand ABCD of Income Tax & therefore completely relied on the above named tax consultant, who without informing him & others, claimed excess deduction under chapter VI-A of the IT Act & claimed refund. It was Patil who cheated all the employees & claimed excess deduction in their returns without informing them for his own benefit. The fact of the cheating came to light when a survey u/s 133A was conducted at the premises of Patil. When the fact that this kind of fraud was made in the name of a number of persons all of them complaint to the Economic Offence Wing of Police, against the tax consultant Patil. It is also apparent that there is no mistake of the assessee but it was the hidden interest of the tax consultant who triggered the gun by using the shoulders of the assessee & many more for his own benefit.' Also read: Capital gain on property: How to pay lower LTCG tax using indexation benefit What did ITAT Pune say about Shinde's action post the fraud coming to his notice According to the judgement order, here's what ITAT Pune said: It is also found that as soon as the fact of excess deduction claimed, came to the knowledge of the assessee (Shinde) he immediately paid the due tax with interest, even before the issue of notice under Section 148 & contacted another genuine tax consultant who prepared and furnished correct return in response to the notice under Section 148. We find that the Assessing Officer has levied a penalty under Section 270(A) of Rs 1,46,760 on the basis of the fact that the correct income was not returned voluntarily but only after issue of notice under Section 148. It is also found that when the notice under Section 148 was issued the appellant (Shinde) has disclosed his correct income & paid the due tax before issue of notice. We also find that the Income Tax Department Assessing Officer has accepted the return as it is, which was furnished by the appellant (Shinde) in response to the notice under Section 148. ITAT Pune final judgement ITAT Pune deleted the tax notice and thus the penalty of Rs 1.4 lakh stood what ITAT Pune said: We cannot accept the contention of Ld. DR (Income Tax Department lawyer) that the revised return was not voluntary therefore the penalty under Section 270(A) is inevitable. In this regard the contention of counsel (Shinde's lawyer) is also important wherein he stated that the due tax along-with interest was already paid before the issue of notice under Section 148 & admittedly the return of income (ITR) could not be filed as the due date was already over. We find force in the arguments of the counsel of the assessee (Shinde) that the amount of tax & interest was deposited voluntarily much prior to the issue of notice under Section 148 since the income tax with interest was deposited by the assessee on 28-05-2019 whereas the notice under Section 148 was issued on 25-02-2020. Judgement: 'Considering the totality of the facts of the case, we are of the considered opinion that this is not a fit case to impose penalty u/s 270(A) & accordingly the order passed by Ld. CIT(A)/NFAC is set-aside & the Assessing Officer is directed to delete the penalty of Rs 1,46,760 imposed u/s 270(A). Thus, the grounds of appeal raised by the assessee are allowed.' What is the significance of this judgement for other taxpayers? ET Wealth Online reached out to a number of lawyers and chartered accountants to get their take on the importance of this judgement for other taxpayers. Here's what they said: Rahul Sateeja, Partner, DMD Advocates, says: 'This ruling marks a significant development in tax penalty jurisprudence. It emphasises that even under the newer Section 270A regime, tax penalties are not merely about ticking boxes but involve a fair process that considers the taxpayer's intent and actions. The key takeaway from this ruling is that it reassures taxpayers that if they are honest and proactive—even when faced with mistakes or misleading advice—they are protected by law. Salaried taxpayers and those relying on consultants now see a tribunal recognising their situation and not penalising them for third-party misleading advice or fraud.' Gopal Bohra, direct tax partner, N. A. Shah Associates LLP says: 'In this case, the taxpayer was unaware about the incorrect or excessive claims made by the consultant in his income tax return and had relied entirely upon the consultant's expertise. Subsequently, when he came to know about the incorrect or excessive claim in his return, he promptly recomputed the correct tax liability and interest thereon and voluntarily deposited. This he has done before any notice could be issued by the tax department and this proactive approach saved him from penal consequences. While the applicability of this decision to other cases would depend on the specific facts involved, however, this may serve as a relevant precedent in a situation where a taxpayer voluntarily pays the correct tax and interest before receiving any notice, and is able to demonstrate bona fide reliance on third party consultant along with a lack of his personal knowledge of the tax laws.' Kunal Savani, Partner, Cyril Amarchand Mangaldas, says: 'This is a welcome judgment, particularly in times where taxpayers often face genuine hardship in filing a revised ITR beyond the prescribed due date. The judgment also underscores the bona fide of a taxpayer and the principle that the taxpayer must approach with clean hands, as was demonstrated in this case, where the taxpayer proactively paid the taxes along with applicable interest immediately upon being made aware of the consultant's error, and notably, even before receiving any demand notice.' Ritika Nayyar, Partner, Singhania & Co., says: 'The judgment lays emphasis that due to the assessee's bonafide intentions, proactiveness to make things right, no intention of tax evasion would have weightage over mistakes done in ITR without his knowledge, even if it led to under reporting of income. If the assessee due to his different technical background, fully relied on his tax consultant, who undertook a fraudulent act for which the assessee had no knowledge and as soon as he became aware, he rectified it suo moto, and should not be held responsible or punished ( be it financially) for someone else's malafide act. So if one is aware and prompt in his corrective actions, along with facts and evidence, he can demonstrate his genuine position and get relief from such a penalty.' Jay N. Bhansali, Advocate, Bombay High court, says: 'In the said case, involving peculiar facts, the Appellate Tribunal held that improper deduction claimed in reliance on professional advice—being influenced by an advisor's hidden agenda—should not attract penalties if there was no willful intent by the taxpayer to evade tax. It further clarified that taxpayers who voluntarily correct such errors and pay taxes before detection may be spared from penal consequences. The ruling reaffirms the principle that not every ineligible claim warrants a penalty, especially in cases of bona fide error. With the Income-tax Department intensifying scrutiny of improper deductions, this decision offers timely relief to similarly affected taxpayers.' N.R. 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Mint
13 hours ago
- Mint
India-UK FTA: ‘Win-win for both countries, boost to economic activity' - How business leaders are reacting to trade deal
As India and the UK sign the 'historic' Free Trade Agreement, aiming to enhance bilateral trade to $120 billion by 2030, prominent Indian business leaders have welcomed the development, calling it a major boost for trade, investment, and collaboration across key sectors such as energy, technology, and manufacturing. Kartikeya Dube, Head of Country and Chairman, bp India, described the agreement as 'a great step towards enhancing the trade relationship between the two partner nations.' He added, 'This will not only enhance the easier trade of goods and services but will also enable a seamless flow of talent and expertise. In the energy sector, this will encourage collaborations and investments, including renewables.' Echoing similar sentiments, Anish Shah, Group CEO and Managing Director of Mahindra Group, hailed the deal as more than just a trade pact. 'This landmark UK-India trade deal is more than an economic milestone – it's a bold vision for shared prosperity and innovation,' he said. 'It opens new doors for collaboration in clean energy, advanced tech, and sustainable manufacturing.' He further added, 'At Mahindra, we see this as a powerful platform to deepen global partnerships and drive inclusive, future-ready growth. It also signals India's growing leadership in shaping a new era of global cooperation.' Meanwhile, Anil Agarwal, Chairman of Vedanta Ltd., in a video message, praised the leadership of both nations. 'I congratulate PM Modi and PM Starmer for this historic agreement. This is a great achievement between Britain and India as they walk down the progressive path. A lot of hard work has gone into it.' Calling it a 'win-win' for both countries, Agarwal stated, 'The FTA will boost economic activity and create many more jobs and opportunities for entrepreneurship in both countries. This will help both countries to increase trade by at least $20 billion.' Prashant Bangur, Vice Chairman of Shree Cement, called it 'a landmark moment for India and the UK,' and said the agreement is 'a testament to India's growing global engagement under PM Shri Narendra Modi's leadership.' He highlighted that the deal would 'improve market access and open new doors in manufacturing, services, and mobility,' while also 'strengthening India's position in global value chains and paving the way for a more resilient, self-reliant, and shared economic future.' On the education and cultural collaboration front, Alison Barrett MBE, Country Director India at the British Council, emphasised the deal's impact beyond economics. She said the FTA 'unlocks thousands of jobs and boosts growth across both economies,' and that the Comprehensive and Strategic Partnership will 'see closer collaboration on defence, education, climate, technology and innovation.' Barrett welcomed the focus on education, stating, 'I am pleased to see education recognised as a core pillar of the partnership, placing people – especially young people from India and the UK – at the heart of this vibrant relationship.' She added that the British Council continues to work closely with the Indian government to support the National Education Policy 2020's goal of internationalisation, noting, 'The shared vision gives us a strong institutional framework for closer and more effective collaborations.' Following the signing of the pact, Prime Minister Narendra Modi stated that it would reduce the 'cost of doing business' and boost the 'confidence of doing business.' He added that this agreement between two major economies would also contribute to global stability and prosperity.
