Panacea Biotec Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
PANACEABIO · price
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On the reaction day the stock moved 7.1 pts more than Nifty Microcap 250 and 5.6 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Panacea Biotec has received a demand order from the Income Tax Department (Office of the Deputy Commissioner of Income Tax, Central Circle 29, Delhi) dated March 1, 2026, raising a demand of about ₹10.23 crore including interest. The demand relates to Assessment Year 2016-17 and stems from disallowance of certain expenses under Section 37 of the Income Tax Act, with the tax officer alleging incorrect categorisation of expenses in violation of Medical Council of India regulations. The company states the demand is not maintainable because its revised filings show no taxable income due to available brought-forward losses that offset any liability. The company plans to file a rectification application and an appeal before the appropriate appellate authority.
The company expects no significant impact on its financials, operations, or other activities, as it believes the demand will not sustain on appeal. Shareholders may view this as a routine tax dispute unlikely to affect the stock, though a prolonged appeal process could create minor uncertainty.