A logo stands on the roof of an ABB’s plant in Baden, Switzerland. (Photographer: Stefan Wermuth/Bloomberg)
The indirect tax adjudicating authority said ABB India Ltd. wilfully evaded tax and suppressed facts, upholding the department’s investigating unit’s contention that the engineering giant allegedly dodged tax by wrongly classifying industrial products.The authority—the first level to resolve tax disputes—ordered the Indian arm of the Swiss-Swedish company to pay a penalty of Rs 5.58 crore, equal to the amount it allegedly evaded, acc...