Gufic Biosciences Wins Income Tax Appeal, Rs 4.33 Crore Demand Deleted
Gufic Biosciences Limited has won an income tax appeal, leading to the deletion of a demand for ₹4.33 Crore for Assessment Year 2024-25. The favorable order was received on September 29, 2026, from the Commissioner of Income Tax (Appeals).
The deletion of a ₹4.33 Crore tax demand positively impacts the company's financial standing, although it may not drastically alter its overall financial performance.
The company has successfully appealed an income tax demand, resulting in the deletion of a significant financial liability.
Gufic Biosciences Limited has received a favorable appellate order dated September 28, 2026, under Section 250 of the Income Tax Act, 1961. The order, received by the company on September 29, 2026, allows the appeal filed against an income tax demand of ₹4,33,36,680 (Rupees Four Crores Thirty-Three Lakhs Thirty-Six Thousand Six Hundred And Eighty Only) for the Assessment Year 2024-25. This demand arose from a disallowance of expenditure during the computation under Section 143 of the Act.
The appeal was filed before the Commissioner of Income Tax (Appeals). The appellate order, when given effect to, will result in the deletion of the aforementioned income tax demand.
This intimation is made pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows up on an earlier intimation dated January 20, 2026.
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