Syngene International Secured Tax Refund of Rs 8.62 Crore in AY 2014-15 Litigation
Syngene International Limited has received a favorable order regarding its tax litigation for Assessment Year (AY) 2014-15, granting a refund of Rs 8,62,14,600/- after the National Faceless Appeal Centre (NFAC) ruling. The final determination was issued by the Assessing Officer on May 14, 2026.The dispute originated from an order passed earlier in 2016, which involved a disallowance of claimed deductions and raised a demand against the company. Subsequently, following an appeal filed by Syngene, the demand amount was increased by the Assessing Officer in March 2017.
The matter came before the NFAC, which issued a ruling on February 13, 2026, partially allowing the appeal. The subsequent order from the Assessing Officer dated May 14, 2026, granted the refund amounting to Rs 8,62,14,600/-, including interest, following the NFAC's decision.
The details of the tax dispute and resolution are summarized below:
| Financial Metric | Initial Assessment (Dec 23, 2016) | Increased Demand (Mar 8, 2017) | Final Refund Granted (May 14, 2026) |
|---|---|---|---|
| Demand/Refund Amount | Rs 16,72,20,900/- (Disallowance) | Rs 33,69,27,800/- | Rs 8,62,14,600/- (Refund, incl. interest) |
| Assessment Year | AY 2014-15 | AY 2014-15 | AY 2014-15 |
Syngene International Limited stated that the company believes there is no material impact on its financial status, operations, or activities as a result of this outcome. The resolution results in a decrease in contingent liability related to AY 2014-15.
The company has confirmed it is currently analyzing the final order and will take appropriate action as required.
SYNGENE Stock Price Movement
Shares of Syngene International Limited slipped today to settle at ₹422.70, shedding 1.77% in post-market trading. The stock saw high activity during the session, with over one million shares changing hands.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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