Syngene's Tax Relief: A Story of Persistence and Resolution

Syngene International Ltd has received a revised tax order, dramatically reducing the earlier demand from ₹160 million to just ₹2.4 million for the assessment year 2022-23. This latest development comes after the company filed for rectification of apparent mistakes in the previous order. The Deputy Commissioner of Income Tax issued the revised order under section 154 on February 17, 2025, providing significant relief to the biotech firm. While Syngene had already appealed against the initial adjustments, this reduction suggests a favorable outcome in their ongoing tax litigation. The company maintains that this development has no material impact on its operations or activities.

 

Source: MarketScreener, TradingView