Announced Fri, 3 Jul · 10:52 IST
Sanofi India wins tax appeal, Rs 72.71 lakh demand dropped
Regulatory & Legal View source PDF
SANOFI · 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
-0.4%1-day move
₹3476.00
prior close
₹3460.80
base price
In-mkt
timing
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AI summary
Sanofi India received a favourable order from the Commissioner of Income Tax Appeal-49, Mumbai, dropping proceedings under Section 201 of the Income-tax Act for Assessment Year 2019-20. The order deletes a tax demand of Rs 72,71,510 that was raised for non-deduction of tax on year-end provisions. The Commissioner accepted the company's submissions that the demand was not justified since disallowance was already made in the tax computation. The company says there is no material financial impact.
Likely market impact
Positive — about Rs 72.71 lakh tax demand deleted in the company's favour, no material impact on financials or operations.