Syngene International has confirmed receiving a tax refund cheque amounting to Rs. 25,47,68,862 from the Income-tax Assessing Officer. This follows a favorable ruling by the Hon’ble High Court of Karnataka, which allowed the company’s Writ Petition concerning Assessment Years 2010-11, 2011-12, and 2012-13. The company is currently analyzing the received cheque and determining any subsequent necessary actions.
Confirmation of Tax Litigation Update
Syngene International Limited has issued a formal intimation regarding an update on ongoing tax litigation matters previously disclosed in October 2024 and December 2025. This update pertains to a Writ Petition filed by the company before the Hon’ble High Court of Karnataka concerning Assessment Years 2010-11, 2011-12, and 2012-13. The High Court had previously ruled in favor of the company for these years.
Receipt of Refund Amount
Pursuant to the High Court’s order, the Deputy Commissioner of Income-tax, Circle 6(1)(1), Bangalore, has issued a refund cheque to the company. The total amount of the refund cheque received on February 13, 2026, is Rs. 25,47,68,862. This amount relates specifically to an adjustment against Assessment Year 2014-15, arising from the original matter where the total adjustment challenged was Rs. 48,90,84,008.
Company Assessment and Next Steps
The company stated that it currently believes there will be no material impact on its financials, operations, or activities resulting from this communication, as the order did not impose any penalty or restriction. Furthermore, the company confirmed that no penalty or sanctions were imposed in the present order. The company is currently in the process of analyzing the received refund cheque and will take appropriate further steps, if deemed necessary.
Source: BSE
