Announced Wed, 15 Jul · 17:19 IST
ITAT quashes tax order against Indrayani Biotech, matter remanded
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-1.3%1-day move
₹8.00
prior close
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base price
After-mkt
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AI summary
The Income Tax Appellate Tribunal has quashed the order of the First Appellate Authority in an income tax case against Indrayani Biotech and sent the matter back for fresh adjudication. The original assessment was made on March 26, 2025 and challenged before the First Appellate Authority, whose March 2026 order was then challenged before the ITAT. The tribunal ruled in the company favor on July 14, 2026, though the underlying tax dispute is not yet fully resolved.
Likely market impact
Procedural win for the company. The unfavorable First Appellate order is set aside, but the tax dispute is reopened for fresh review.