Sanofi India Limited has received a favorable order from the Assistant Commissioner of Income Tax, Mumbai, which gives effect to a prior appellate order. This order effectively drops proceedings under Section 201 of the Income-tax Act, 1961, and vacates a demand of Rs. 72,71,510 for the Assessment Year 2019-20. The company had previously intimated a similar favorable appellate order on July 3, 2026.
Tax Demand Vacated
Sanofi India Limited has announced the receipt of an order from the Assistant Commissioner of Income Tax, TDS OSD TDS Circle 2(2), Mumbai. This order is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The directive serves to give effect to a favorable appellate order previously received from the Commissioner of Income Tax Appeal (CIT (A)) – 49, Mumbai, dated July 2, 2026.
Details of the Order
The favorable appellate order pertains to the Assessment Year (AY) 2019-20 and results in the dropping of proceedings initiated under Section 201 of the Income-tax Act, 1961. Consequently, a demand of Rs. 72,71,510 has been deleted. The company had previously informed the stock exchanges about this favorable outcome on July 3, 2026. The latest order ensures that the relief granted by the CIT(A) for AY 2019-20 is given effect to, thereby vacating the aforementioned demand.
Nature of Violation and Financial Impact
The appeal leading to this order was against the non-deduction of TDS on year-end provisions. Sanofi India Limited has stated that this development has no material impact on the financial, operational, or other activities of the listed entity. The effective date of receiving this order was August 11, 2026.
Source: BSE
