Syngene International has received favorable orders from the National Faceless Appeal Centre (NFAC) concerning income tax appeals filed for Assessment Years 2015-16, 2018-19, and 2021-22. The NFAC partially allowed relief against earlier additions/disallowances made by the Assessing Officer. The Company anticipates a reduction in contingent liability and eligibility for a refund, with no expected material impact on current financials or operations.
Resolution of Past Tax Disputes
Syngene International Limited announced on February 18, 2026, that it received orders from the National Faceless Appeal Centre (NFAC) that partially allowed relief in long-standing tax matters. These orders relate to appeals filed against additions and disallowances previously made during the completion of assessments for three separate Assessment Years (AYs).
Key Assessment Years and Dates
The orders from the NFAC, which effectively provide relief to the Company, pertain to the following periods:
- AY 2015-16: Order dated February 18, 2026, regarding an assessment order from December 20, 2017.
- AY 2018-19: Order dated February 13, 2026, regarding an assessment order from September 09, 2021.
- AY 2021-22: Order dated February 13, 2026, regarding an assessment order from December 30, 2016.
The Company confirms that no penalties or restrictions were imposed by the authority in these final orders.
Financial Implications and Next Steps
Regarding the financial impact, Syngene management believes that the outcome will not have a material effect on the company’s current financials, operations, or activities. Furthermore, the receipt of these favorable orders is expected to result in a reduction in contingent liability and eligibility for a tax refund once the Assessing Officer passes the order giving effect to the NFAC ruling. The Company is currently in the process of analyzing the orders and will take the appropriate subsequent action.
Source: BSE
