The High Court of Karnataka has allowed Syngene’s Writ Petition regarding the adjustment of tax refunds for Assessment Years 2010-11 and 2011-12, as well as the non-issuance of refund for AY 2012-13. The matter concerns an aggregate amount of Rs.48,90,84,008. The court has directed the Income Tax Authorities to refund the amount, along with interest, subject to verification.
Favorable Court Ruling
Syngene International has received a favorable order from the High Court of Karnataka concerning its tax litigations. The ruling, dated December 17, 2025, pertains to a Writ Petition filed by the company.
Details of the Petition
The Writ Petition addressed the adjustment of tax refunds granted for Assessment Years 2010-11 and 2011-12, offsetting them against demands outstanding for other assessment years. It also concerned the non-issuance of a refund granted for Assessment Year 2012-13. The total amount involved in the petition was Rs.48,90,84,008.
Implications of the Order
The High Court’s order allows the Writ Petition and directs the Income Tax Authorities to refund the aforementioned amount to Syngene International. This refund will include interest, subject to a process of verification.
Financial Impact
Syngene International believes that this development is unlikely to have a material impact on the company’s overall financial condition, operations, or activities.
Source: BSE
