Announced Thu, 30 Apr · 11:25 IST
ITAT allows Panacea Biotec appeal; ₹9.16 Cr tax demand cancelled
Regulatory & Legal View source PDF
PANACEABIO · 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
+1.4%1-day move
₹369.00
prior close
₹362.15
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.2+0.0+0.2-0.0+1.4+0.4+8.4+9.9+5.7-0.4+13.3+7.9+54.6—
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AI summary
Income Tax Appellate Tribunal (ITAT) allowed Panacea Biotec's appeal on April 29, 2026, setting aside the CIT(A) order. This deletes ₹3.44 Crore of disallowed expenses and cancels a ₹9.16 Crore tax demand raised for Assessment Year 2020-21 under Section 14A of the Income Tax Act. The company had contested the addition and won.
Likely market impact
Positive for shareholders — ₹9.16 Cr tax demand cancelled and ₹3.44 Cr expense disallowance deleted, supporting earnings.