Power Grid Corp plans to invest Rs 1.43 bn in augmentation of transformation capacity at Maheshwaram (PG) substation in Telangana. The company also plans a Rs 2.24 bn investment in a transmission system for power evacuation from a potential Renewable Energy zone in Khavda, Gujarat.
The tax authorities demanded significant amounts for the years 2016-17 (Rs 7,396.76 mn) and 2017-18 (Rs 9,270.31 mn). The company appealed to the Commissioner of Income Tax (CIT-Appeal), but the CIT-Appeal confirmed the revision to taxable income without a personal hearing. The company will contest the same and will take appropriate legal remedies.