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

SMS Pharmaceuticals has received a tax demand of Rs. 7.19 crores from the Income Tax Department's Faceless Assessment Unit for Assessment Year 2018-19. The demand was raised under Section 156 of the Income Tax Act after the assessment officer added back certain income and disallowed deductions claimed under Section 35 of the Act. Separately, penalty proceedings under Section 270A have also been initiated for alleged under-reporting of income. The company has stated it is reviewing the order and plans to challenge it before the appropriate appellate forum. SMS Pharmaceuticals has clarified that, at this stage, there will be no material impact on its financial, operational, or other activities pending the review and appeal process.