SMS Pharmaceuticals: Income Tax Appeal Allowed, ₹45.63 Cr Demand Vacated

SMS Pharmaceuticals Ltd has received a favorable appellate order from the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre. This order, dated October 30, 2026, allows the company's appeal against an assessment order for Assessment Year 2023-24. Consequently, the outstanding tax demand of ₹45.63 Crores, which included interest, has been vacated. The company had previously received an assessment order on March 22, 2025, under Section 144 read with Section 144B of the Income Tax Act, 1961, which had raised the demand. The appeal process has now concluded with the tax demand being set aside.