Solara Active Pharma Sciences Limited Receives Income Tax Demand Notice
Solara Active Pharma Sciences Limited announced on March 18, 2026, that it received a Notice of Demand under Section 156 of the Income Tax Act, 1961, from the Deputy Commissioner of Income Tax, Central Circle-3, Thane. The notice pertains to the assessment year 2019-20.The order, passed under Section 143(3) read with Section 147 of the Income Tax Act, 1961, resulted in a Tax Demand of Rs. 161.92 Crores due to disallowance of certain expenses claimed by the Company in its Income Tax Return for Assessment Year 2019-20.
The Company intends to file an appeal against the order before the concerned Appellate Authority. Solara Active Pharma Sciences believes it has merits in the case and does not anticipate any material financial or other impact.
Below is a summary of the details:
| Sr. No | Particulars | Details |
|---|---|---|
| 1 | Name of the listed company | Solara Active Pharma Sciences Limited |
| 2 | Type of communication received | The order had been passed under Section 143 (3) read with Section 147 of the Income Tax Act, 1961, resulting into a Tax Demand Notice under Section 156 of the Income Tax Act, 1961 |
| 3 | Date of receipt of communication | March 17, 2026 |
| 4 | Authority from whom communication received | Deputy Commissioner of Income Tax, Central Circle-3, Thane |
| 5 | Brief summary of the material contents of the communication received, including reasons for receipt of the communication | The order has been passed on account of disallowance of certain expenses claimed by the Company in its Income Tax Return for Assessment Year 2019-20, resulting in a Tax Demand of Rs. Rs.161.92 Crores. |
| 6 | Period for which communication would be applicable, if stated | Assessment Year 2019-20 |
| 7 | Expected financial implications on the listed company, if any | The Company believes it has merits in the case and does not expect any material impact on the Company financially or otherwise. |
| 8 | Details of any aberrations/non-compliances identified by the authority in the communication | Refer to our response on Point 5 herein. |
| 9 | Details of any penalty or restriction or sanction imposed pursuant to the communication | Nil |
| 10 | Action(s) taken by listed company with respect to the communication | The Company is preparing for filing an appeal against this Order before the concerned Appellate Authority. |
| 11 | Any other relevant information | Nil |
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