Gautam Adani in BIG TROUBLE: What comes as a big blow for businessman Gautam Adani that the Income Tax (I-T) department has recently levied two separate penalties on ACC Ltd amounting to Rs 23.07 crore which the Adani-owned company plans to challenge before appellate authorities. The first penalty of Rs 14.22 crore (AY 2015-16) has been imposed by the department for allegedly “furnishing of inaccurate particulars of income.” The second amount of Rs 8.85 crore relates to the assessment year 2018-19 and involves issues of under-reporting of income.