Syngene International Limited Receives Order Regarding Tax Litigations
Syngene International Limited announced on March 29, 2026, that it received an order dated February 6, 2026, from the National Faceless Appeal Centre (NFAC) concerning Assessment Year 2016-17. This order gives effect to the NFAC’s earlier order.The company previously filed a Writ Petition with the Hon'ble High Court of Karnataka regarding the adjustment of refunds granted for Assessment Years 2010-11 and 2011-12 against outstanding demands and the non-issuance of a refund granted for Assessment Year 2012-13. The High Court allowed the petition.
The NFAC partially allowed an appeal filed by the company for Assessment Year 2016-17. Subsequently, the Assessing Officer issued an order granting a refund of Rs. 43,15,79,510, including interest. The company has yet to receive this refund amount.
Syngene International Limited believes there may not be a material impact on its financials, operations, or activities. The company expects a decrease in contingent liability related to Assessment Year 2016-17. The company is analyzing the order and will take appropriate action.
| Particulars | Details |
|---|---|
| Name of the listed entity | Syngene International Limited |
| Date of receipt of communication | March 28, 2026 |
| Authority from whom communication received | The Deputy Commissioner of Income-tax, Circle 6(1)(1), Bangalore |
| Refund Amount | Rs. 43,15,79,510 (including interest) |
| Assessment Year | 2016-17 |
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