Syngene International announced a positive development concerning its past income tax litigation pertaining to Assessment Year 2012-13. The National Faceless Appeal Centre (NFAC) passed an order on February 13, 2026, directing the Assessing Officer to verify specific details and grant relief to the Company regarding a previous disallowance made under Section 147/143(3) of the Income-tax Act, 1961. The Company anticipates no material impact on its financials or operations.
Tax Litigation Update Received by Syngene
Syngene International Limited has officially informed the stock exchanges regarding a recent communication received from a regulatory authority concerning past tax proceedings. The order was received on February 13, 2026, from the National Faceless Appeal Centre (NFAC). The communication relates to an appeal filed by the Company on January 21, 2020, against an order passed by the Assessing Officer on December 23, 2019, which had disallowed certain expenses under Section 147 read with Section 143(3) of the Income-tax Act, 1961.
NFAC Directions and Assessment Year
The core of the update is that the NFAC has directed the Assessing Officer to verify certain details and allow relief to the Company. This development pertains specifically to the Assessment Year 2012-13. The Company noted that the original order involved the disallowance of certain expenses. Following the NFAC’s directive, the Assessing Officer is now tasked with issuing a subsequent order after the verification process is complete.
Financial Impact and Current Status
Regarding the potential consequences of this outcome, Syngene International believes there will be no material impact on the company’s financials, operations, or activities. Furthermore, the order dated February 13, 2026, imposed no penalty, restrictions, or sanctions against the Company. Syngene is currently analyzing the order and will proceed to take appropriate action as advised.
Source: BSE
