Tax & Penalty31 Oct 2026, 08:31 pm
SMS Pharmaceuticals Appeal Dismissed by Income Tax Appellate Authority
AI Summary
SMS Pharmaceuticals Ltd has received an appellate order from the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, dismissing the company's appeal. This appeal was against an assessment order for Assessment Year 2018-19, which initially raised a tax demand of Rs. 7.19 Crores. A subsequent rectification order reduced this demand to Rs. 40.28 Lakhs. The company is currently reviewing the appellate order to determine further course of action. SMS Pharmaceuticals stated that there will be no material impact on its financial, operational, or other activities.
Key Highlights
- Income Tax Appellate Authority dismissed SMS Pharmaceuticals' appeal.
- Original tax demand was Rs. 7.19 Crores for AY 2018-19.
- Demand was previously reduced to Rs. 40.28 Lakhs via rectification.
- Company reviewing order; no material financial impact expected.
- Further action to be decided based on legal provisions.
Price Impact
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