Indrayani Biotech Legal & Regulatory
Indrayani Biotech received a tax recovery notice for outstanding demands totaling ₹1.17 Crore for various assessment years, for which the company has filed responses.
- Value
- ₹1.17 Cr
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Indrayani Biotech received a tax recovery notice for outstanding demands totaling ₹1.17 Crore for various assessment years, for which the company has filed responses.
Indrayani Biotech announced that the Income Tax Appellate Tribunal quashed a prior assessment order. The matter is restored to the First Appellate Authority for fresh adjudication.
Indrayani Biotech Ltd has filed an appeal before the Income Tax Appellate Tribunal (ITAT) against an assessment order raising a demand of ₹13.90 Crore for AY 2023-24. The company, advised by legal counsel, expects no material adverse impact on its financial operations as the matter remains sub-judice.