Panacea Biotec Limited has informed the Exchange about the receipt of rectified Assessment Order dated 06.04.2026 from the Deputy Commissioner of Income Tax. Under this order, the errors have been corrected, and the Company's tax liability for AY 2016-17 has been determined as Nil.
PANACEABIO · price
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Panacea Biotec received a rectified Assessment Order dated April 6, 2026 from the Deputy Commissioner of Income Tax (DCIT), New Delhi. This order corrects an earlier demand order from March 1, 2026 that had raised a tax demand of approximately ₹10.23 crore for Assessment Year 2016-17. The errors corrected were double addition of disallowances and omission of set-off for brought-forward losses. Following the rectification, the company's tax liability for AY 2016-17 has been determined as Nil. The company does not foresee any adverse impact on its financial, operational, or other activities from this order.
Positive development for shareholders as the ₹10.23 crore tax demand has been completely nullified, removing any financial liability related to Assessment Year 2016-17.