Nectar Lifesciences Reports Favorable Outcome on Litigation for Assessment Year 2017-18
Nectar Lifesciences Limited reported a key development regarding its ongoing litigation concerning notices issued under Sections 148 and 148A(b) of the Income Tax Act, 1961. The company announced that the objections filed for the Assessment Year 2017-18 were decided in its favor.The litigation challenge originated from notices pertaining to Assessment Years 2017-18 through 2021-22, originally initiated by the Deputy Commissioner of Income Tax (DCIT), Chandigarh. The company had previously pursued writ petitions challenging these notices, including successful filings in May 2025 for subsequent assessment years.
The recent development confirmed that the objections for the Assessment Year 2017-18, filed before the Deputy Commissioner of Income Tax, Central Circle-1, Chandigarh, were decided in favor of Nectar Lifesciences Limited vide an order dated March 31, 2026. The company confirmed receipt of this order via email on April 09, 2026.
The details of the litigation update are summarized below:
| Detail | Description | Financial Implication | Quantum of Claims |
|---|---|---|---|
| Opposing Party | Deputy Commissioner of Income Tax (DCIT), Chandigarh | Nil | NIL |
| Case Status | DCIT, Chandigarh disposed of notice for assessment year 2017-18. | Nil | NIL |
| Order Date | March 31, 2026 | Nil | NIL |
| Company's Objection | Filed for Assessment Year 2017-18. | Nil | NIL |
The outcome of the Assessment Year 2017-18 notice period confirms no expected financial implication for the company, and the quantum of claims remains NIL.
NECLIFE Stock Price Movement
As of 2:12 PM, shares of Nectar Lifesciences Limited are shedding ₹0.16, or 1.27%, in live trading, currently trading at ₹12.4. The stock has seen substantial trading activity in the session, processing a volume of 374,358 shares so far.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.