Jubilant Generics Limited Files Appeals After Receiving Tax Order of Rs. 107.89 Crores
Jubilant Generics Limited (JGL), a wholly owned step down Indian subsidiary of Jubilant Pharmova Limited, has initiated legal action following the receipt of an order from the Income Tax Department.The tax adjustment order was received on May 22, 2026, for the financial year 23. The notice, which totaled Rs. 107.89 crores, primarily related to transfer pricing adjustments, according to the company.
JGL stated that the tax adjustments were made while ignoring the facts and contentions of the Company. Consequently, JGL is in the process of filing necessary appeals and has separately submitted an application before the Advance Pricing Authority covering the year under consideration. The company expects the tax adjustments to be deleted following the adjudication or redressal process.
Litigation and Financial Implications
The details surrounding the litigation are presented below. JGL is expected to receive relief from the relevant Appellate Authority and Advance Pricing Authority, and does not currently anticipate any material financial implications.| Litigation Details | Opposing Party | Agency/Tribunal | Quantum of Claims (in Rs. crores) | Expected Financial Impact |
|---|---|---|---|---|
| Order received for FY 23 making tax adjustments of Rs. 107.89 crores primarily arising out transfer pricing adjustments ignoring contentions. | Income Tax Department | Appeal before Commissioner of Income Tax (Appeals) | Rs. 107.89 crores | Reduction in Deferred Tax Assets to the extent of Rs. 37.70 crores |
The process involves filing an appeal before the Commissioner of Income Tax (Appeals) against the impugned order. The event occurred on May 22, 2026, at 8:42 AM IST.
JUBLPHARMA Stock Price Movement
Jubilant Pharmova Limited shares today slipped by 1.35% to settle at ₹1006.35. The decline was marked by a total traded volume of 531,866 shares.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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