Victory in the Tax Arena: AstraZeneca's Rs. 13 Crore Dispute Erased by CIT(A)

AstraZeneca Pharma India Ltd has secured a favorable order from the Commissioner of Income-tax (Appeals) (CIT(A)) for the assessment year 2020-21. The order, issued under Section 250 of the Income Tax Act, 1961, overturns an earlier erroneous addition of Rs. 13.11 crore made by the Centralised Processing Centre (CPC) in its intimation under Section 143(1) of the Act. The CIT(A) has directed the Assessing Officer to delete this addition after verifying the company’s claim, marking a significant win for the company in its tax dispute.

 

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Source: NSE Corporate Announcement, Reuters, Marketscreener