Thank you for the post. This coin can be of later Mughal period or of Princely state of Arcot, most likely the former because on the Arcot issues, the side with date is usually different.
The pattern with three vertical lines with hook above is characteristic of later Mughal issues from Peninsular India. Elichpur, Machlipatan and Hyderabad coins of Aurangazeb in this pattern are not uncommon. The pattern has continued over the period of his successors. Here is an example of Muhammad shah (1131-61.AH) issue
Here is another example of an issue of Shah Alam-II (1174-1221.AH)
(the date on the coin could be 1193 or 1194.AH)
As Finn has shown, the date is 1171.AH. This corresponds to Aziz ud din Alamgir-II period.
From these two examples, it is evident that the pattern was there before and after Alamgir-II. We can safely put it to that period - Mughal, Alamgir-II, 1167-1173.AH.
The other side shows the mint. Unfortunately, I am unable to read it to satisfaction. You can find the denomination depending on its weight. Thanks