Tax & Penalty25 Apr 2026, 08:30 pm
Indrayani Biotech Faces ₹13.9 Cr IT Demand, Files Appeal
AI Summary
Indrayani Biotech Ltd has received an assessment order from the Income Tax Department, raising a demand of ₹13.90 Crores. The company has filed an appeal before the Income Tax Appellate Tribunal (ITAT) to contest the demand. Based on legal advice, Indrayani Biotech believes the demand is not expected to have a material adverse impact on its financial operations. The matter is currently sub-judice, and the company is awaiting the date of the first hearing.
Key Highlights
- Indrayani Biotech received an IT demand notice for ₹13.90 Crores.
- The company has filed an appeal with the Income Tax Appellate Tribunal (ITAT).
- Legal advisors believe the demand will not materially impact financial operations.
- The assessment order is for the Assessment Year 2023-2024.
- The company is awaiting the date for the first hearing at ITAT.