Tax & Penalty22 May 2026, 07:51 pm
Jubilant Pharmova Subsidiary Gets ₹107.89 Cr Tax Demand
AI Summary
Jubilant Pharmova's step-down subsidiary, Jubilant Generics Limited (JGL), received a tax demand order of ₹107.89 crores from the Income-tax department for FY23, primarily due to transfer pricing adjustments. JGL believes the adjustments ignore company facts and contentions and plans to file an appeal. An application before the Advance Pricing Authority has also been filed. JGL anticipates relief and does not expect material financial implications. Deferred Tax Assets may reduce by ₹37.70 crores.
Key Highlights
- Jubilant Generics received a ₹107.89 Cr tax demand order for FY23.
- The tax demand is primarily due to transfer pricing adjustments.
- JGL will file an appeal against the order with the Commissioner of Income Tax (Appeals).
- JGL expects relief from the Appellate or Advance Pricing Authority.
- Reduction in Deferred Tax Assets to the extent of ₹37.70 crores is expected.
Price Impact
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