Gufic Biosciences wins appeal against Rs 4.33 cr income tax demand
GUFICBIO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Gufic Biosciences has won its appeal before the Commissioner of Income Tax (Appeals) against an income tax demand of Rs 4.33 crores for Assessment Year 2024-25. The demand arose from disallowance of expenditure under Section 143 of the Income Tax Act. The appellate order dated September 28, 2026, received on September 29, 2026, was passed in favour of the company. Upon giving effect to this order, the entire Rs 4.33 crores tax demand stands deleted.
Positive for shareholders. The Rs 4.33 crores tax demand is deleted, easing the tax burden and supporting earnings for AY 2024-25.