Income Tax Tribunal Quashes Assessment Order Against Indrayani Biotech Ltd
Indrayani Biotech Ltd has received a significant update in its ongoing tax litigation, following a ruling by the Income Tax Appellate Tribunal. The Tribunal issued an order quashing a previous assessment order and referred the matter back for fresh adjudication.The company had challenged an Assessment Order, originally dated March 26, 2025, which was subsequently reviewed before the First Appellate Authority. This process led to a determination made by the First Appellate Authority on March 9, 2026. The matter was presented before the Income Tax Appellate Tribunal (Hon'ble Tribunal).
Following hearing both the company and the Income Tax Officer, the Hon'ble Tribunal ruled on July 14, 2026, issuing an order that quashed the previous order of the First Appellate Authority. The case has been restored to the file of the First Appellate Authority for re-adjudication.
The litigation involved Indrayani Biotech Ltd as the appellant against The Income Tax Officer. The history and status of this dispute are summarized below:
| S/N | Opposing Party | Date of Initiation | Status per Last Disclosure | Current Status |
|---|---|---|---|---|
| 1. | The Income Tax Officer | March 09, 2026 | Ongoing | Culminated |
Stock Price Movement
At the close of trade today, Indrayani Biotech Ltd shares settled at ₹7.81, posting a 3.58% decline. The stock experienced volatility during the session, moving between an intraday low of ₹7.70 and a high of ₹8.18.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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