MUMBAI - Indian automaker Mahindra & Mahindra (MAHM.BO) said on Thursday its appeal related to the excise classification of Commander vehicles was rejected by the Customs, Excise and Service Tax Appellate Tribunal.

The appeal was against the demand for the payment of differential excise duty of 2.16 billion rupees ($46.5 million) and a penalty of 880.8 million rupees related with the classification of the Commander vehicle as a 10-seater during the years 1991 to 1996.

The company will appeal to the Supreme Court, it said in a statement. ($1= 46.5 rupees) (Reporting by Pratish Narayanan; Editing by Surojit Gupta)

India