Panacea Biotec receives ₹4.32 Cr income tax penalty demand

Panacea Biotec Ltd has received two demand orders dated September 28, 2026, from the Office of the Assistant Commissioner of Income Tax, Delhi. These orders impose a penalty aggregating to approximately ₹4.32 Crore for alleged misreporting or under-reporting of income for Assessment Years 2022-23 and 2023-24. The company believes the demand is not maintainable and is taking necessary steps, including filing an appeal with the appellate authority. Panacea Biotec does not anticipate any significant financial, operational, or other impact on the company.