Novartis India Receives Order from Delhi High Court Regarding Tax Assessment
Mumbai – March 30, 2026 – Novartis India Limited announced today that it received an order from the Delhi High Court on March 27, 2026, admitting the company’s petition in the matter of Novartis India Limited vs. Commissioner of Trade and Taxes.The petition challenges a DVAT assessment for assessment year 2013-14, which initially resulted in a demand of approximately 10.89 crore for tax and interest, along with a penalty of 6.85 crore. The court’s order is procedural in nature and does not constitute a final order in the matter.
According to the company, in the event of a favorable order, a refund of 54.45 lacs may be received. Conversely, an unfavorable order would not have a material impact as the pre-deposit amount is fully provided for in the company's accounts.
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Name of the Authority | Delhi High Court |
| 2 | Nature of Action | Petition filed to direct the respondents (Commissioner of Trade and Taxes, New Delhi) to complete proceedings for FY 2013-14. |
| 3 | Date of Order | March 29, 2026 |
| 4 | Alleged Violations | Alleged violations/contraventions by the company regarding proceedings initiated for FY 2013-14 |
| 5 | Potential Financial Impact | Potential refund of INR 54.45 lacs in case of a favorable order; no impact in case of an unfavorable order. |
Source:
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.