Akums' Subsidiaries Receive Income Tax Assessment Orders for Period 2018-2025
Akums Drugs and Pharmaceuticals Limited's wholly-owned subsidiaries have received assessment orders from the Income Tax Department concerning the block period starting from April 1, 2018, to March 12, 2025. The assessments cover various entities, including Maxcure Nutravedics Limited, Pure and Cure Healthcare Private Limited, Malik Lifesciences Private Limited, and Nicholas Healthcare Limited.The assessment orders, passed under Section 158BC of the Income Tax Act, 1961, relate to the disallowance of various expenditures under Section 37(1) of the Act.
Assessment Details and Demands
The following table summarizes the demands received by the respective subsidiaries from the Income Tax Department, Central Circle 1, New Delhi.| Subsidiary Name | Demand Amount | Assessment Date/Receipt Date |
|---|---|---|
| Maxcure Nutravedics Limited | Rs. 15,23,84,730/- | Order dated May 20, 2026 (received May 21, 2026) |
| Pure and Cure Healthcare Private Limited | Rs. 5,77,12,428/- | Order dated May 20, 2026 (received May 21, 2026) |
| Malik Lifesciences Private Limited | Rs. 80,49,432/- | Order dated May 21, 2026 (received May 22, 2026) |
| Nicholas Healthcare Limited | Rs. 44,97,058/- | Order dated May 21, 2026 (received May 22, 2026) |
Impact and Company Stance
Regarding the financial implications, the company noted that, based on an internal assessment, none of the subsidiaries anticipate a material financial impact from the received orders. The subsidiaries maintain that the aforementioned demands may not be sustainable under law and are defendable based on the facts of the case.Akums Drugs and Pharmaceuticals Limited confirmed that the subsidiaries will pursue an appeal against the said orders under the applicable laws.
AKUMS Stock Price Movement
As of 11:38 AM, Akums Drugs and Pharmaceuticals Limited shares are rallying, gaining 0.14% and currently trading at ₹522.1. The stock is seeing considerable interest, evidenced by 74,792 shares traded in the live market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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