SMS Pharmaceuticals Limited has informed the Exchange about Action(s) taken or orders passed

SMS Pharmaceuticals Limited received a Rectification Order under Section 154 of the Income Tax Act, 1961 on 28th April 2026 from the Assistant Commissioner of Income Tax, Hyderabad. The order substantially reduced the tax demand from Rs. 7.19 crores to Rs. 40.28 lakhs for Assessment Year 2018-19. The original demand arose from an assessment order under Section 147/144B involving addition of income and disallowance of deduction under Section 35. Penalty proceedings under Section 270A were separately initiated for under reporting of income. The company has filed an appeal with the Commissioner of Income Tax (Appeals) and applied for penalty proceedings to be kept in abeyance pending appeal disposal.