Gufic Biosciences Receives ₹4.33 Crore Income Tax Demand for AY 2024-25
Gufic Biosciences Limited received an Income Tax demand of ₹4.33 crore for AY 2024-25 due to disallowed expenditure. The company plans to appeal the order before the Commissioner of Income Tax (Appeal) and is optimistic about a favorable outcome.
A tax demand of ₹4.33 crore can impact the company's financials, and the company's intention to appeal suggests it's a notable issue.
The company has received a significant tax demand, which is a negative development.
Gufic Biosciences Limited has received a Notice of Demand under Section 156 of the Income Tax Act, 1961, for the Assessment Year 2024-25. The demand aggregates to ₹4,33,36,680, raised due to the disallowance of expenditure as per the computation under section 143(1)(a) of the Act.
The Income Tax Department initiated this action. The company received the order, dated December 22, 2025, on January 19, 2026. The specific issue pertains to a tax demand of ₹4,33,36,680 on account of disallowance of expenditure for the Assessment Year 2024-25.
Considering the merits of the case and based on the advice of their tax advisor, Gufic Biosciences Limited intends to file an appeal before the Commissioner of Income Tax (Appeal) within the prescribed time limit. The company is hopeful of a favourable outcome at the appellate authority.
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Gufic Biosciences Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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