Oracle Financial Services Software Receives Income Tax Penalty Order; Company To Appeal

Oracle Financial Services Software has disclosed that it received a penalty order from the Income Tax Department's National Faceless Penalty Centre. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The order relates to Assessment Year 2010-11 and was issued under Section 271(1)(c) of the Income-tax Act, 1961. The department has imposed a penalty of ₹2,92,53,601 in connection with alleged furnishing of inaccurate particulars of income.

The company received the order on 29 September 2026. OFSS said it believes the order is not sustainable and is taking the necessary steps to challenge it before the appropriate authority.

Company Expects No Financial Or Operational Impact

In a filing dated 29 September 2026 addressed to the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), the company described the disclosure as a regulatory filing concerning an order issued by the tax authority.

OFSS said its assessment is that the penalty order will not affect its financials, operations or other activities, and that it intends to pursue an appeal before the appropriate authority.

The company also stated that it is hopeful of a favourable outcome at the appellate level. Its stated position is that the penalty order is not sustainable, with the matter now moving into the appellate process.

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