Panacea Biotec Receives ₹9.82 Crore Tax Penalty Demand Orders
Panacea Biotec received four tax penalty demand orders totaling ₹9.82 Crore for alleged income misreporting. The company disputes the demand and plans to file an appeal, expecting no significant financial or operational impact.
While the company disputes the demand and expects no significant impact, a tax demand of ₹9.82 Crore could potentially affect finances if the appeal is unsuccessful.
The company has received penalty demand orders from the Income Tax department, which is a negative development.
Panacea Biotec Limited has announced the receipt of four Demand Orders from the Office of the Assistant Commissioner of Income Tax, Delhi, dated September 25, 2026. These orders, issued under Section 156 of the Income Tax Act, 1961, impose a penalty aggregating to approximately ₹9.82 Crore.
The penalty is on account of alleged misreporting or under-reporting of income for Assessment Years 2014-15 to 2016-17 and 2018-19. The company received these communications on September 26, 2026.
Panacea Biotec Limited has stated that, based on their assessment, the demand is not maintainable. The company is taking necessary steps, including filing an appeal with the appellate authority. They do not foresee any significant impact on the company's financial, operational, or other activities.
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