Syngene International has received an order dated October 17, 2025, giving effect to a prior order by the National Faceless Appeal Centre regarding Assessment Year 2015-16. The order, received on November 3, 2025, pertains to income tax matters. The revised demand now stands at ₹48,61,04,023. The company is analyzing the order and will take appropriate action. Syngene believes it has merits in the case.
Background on Tax Assessment
Syngene International has been involved in an income tax assessment case. The Deputy Commissioner of Income-tax had initially passed an order on December 20, 2017, which led to a demand of ₹37,20,26,140. The company appealed this order, and the appeal proceedings are underway.
Reassessment and Appeal
Subsequently, the National Faceless Assessment Centre issued an order on September 24, 2021, which increased the demand to ₹79,84,08,235 (including interest). Syngene appealed this order as well, and the National Faceless Appeal Centre later quashed the reassessment proceedings on December 26, 2023.
Revised Demand and Current Status
Following the appeal process, the Assessing Officer issued a new order on October 17, 2025, received by the company on November 3, 2025. This order, giving effect to the Faceless Appeal Centre’s decision, rectifies errors and reduces the demand to ₹48,61,04,023 (including interest). The company is currently analyzing the order and will take appropriate action. Syngene believes that it has a strong case and anticipates no material impact on its financials or operations.
Source: BSE
