Gufic Biosciences Limited has received a Notice of Demand under Section 156 of the Income Tax Act, 1961, for Assessment Year 2024-25. The Income Tax Department has raised a demand of Rs. 4.33 crore due to disallowance of expenditure. The company plans to appeal, expecting a favorable outcome.
Gufic Biosciences Limited has formally disclosed that the Income Tax Department has issued a Notice of Demand under Section 156 of the Income Tax Act, 1961. The demand, amounting to Rs. 4,33,36,680, arises from disallowance of expenditure as per computation under Section 143(1)(a) for Assessment Year 2024-25.
Key Highlights:
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The order was dated December 22, 2025, and received by the company on January 19, 2026
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The demand is based on disallowance of expenditure under Section 143(1)(a) of the Act
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The company intends to file an appeal before the Commissioner of Income Tax (Appeal) within the prescribed time limit
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Management, supported by tax advisors, believes the merits of the case favor a positive outcome at the appellate stage
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The disclosure has been made in compliance with Regulation 30 of SEBI Listing Regulations and the SEBI Master Circular dated November 11, 2024
Sources: Company filing with BSE, SEBI Master Circular, Income Tax Department communication