Sanofi India Secures Favorable Income Tax Order, Demand of Rs 72 Lakh Dropped
Sanofi India Limited has secured a favorable decision from the Commissioner of Income tax Appeal - 49, Mumbai regarding its assessment for Assessment Year 2019-20. The Income Tax Department order dropped proceedings initiated under Section 201 of the Income-tax Act, 1961 ('the Act'), deleting a demand amounting to Rs 72,71,510.
The company received the Order from the authority on July 02, 2026. This outcome follows an appeal filed by Sanofi against an earlier order which had determined a demand of Rs 72,71,510. The original action involved treating the Company as an 'assessee in default' for non-deduction of taxes on year-end provisions.
The Commissioner of Income tax Appeal accepted the submissions provided by Sanofi India Limited. The favorable determination was based on the finding that since the company had already made a disallowance in its tax computation, it could not be classified as an 'assessee in default' under section 201(1) of the Act for the same amount and consequently subjecting the company to demand and interest.
The details of the tax assessment and the resulting decision are summarized below:
| Aspect | Detail |
|---|---|
| Authority | Income Tax Department- Office of the Commissioner of Income tax Appeal - 49, Mumbai |
| Assessment Year (AY) | 2019-20 |
| Initial Violation/Allegation | Non-deduction of taxes on year-end provisions, resulting in a demand of Rs 72,71,510. |
| Outcome | Proceedings under Section 201 dropped; favourable order issued. |
| Impact on Company | No material impact on financial or operational activities. |
The successful appeal concludes the matter concerning the tax computation for Assessment Year 2019-20, resulting in the deletion of the specified demand amount.
SANOFI Stock Price Movement
As of 10:59 AM, shares of Sanofi India Limited are slipping by 0.73% in live trading, currently valued at ₹3448.8 as investors react to market movements. The stock is trading within an intraday range established between a high of ₹3485.2 and a low of ₹3445.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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