Solara Active Pharma Sciences Faces Rs 161.92 Crore Income Tax Demand:

Solara Active Pharma Sciences Faces Rs 161.92 Crore Income Tax Demand Solara Active Pharma Sciences Limited recently disclosed that it has received a Demand Notice issued by the Deputy Commissioner of Income Tax, Central Circle-3, Thane, under Section 156 of the Income Tax Act, 1961. The notice pertains to the Assessment Year 2019-20.

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The notice follows an assessment order passed under Section 143 (3) read with Section 147 of the Income Tax Act, 1961. As per the tax authorities, the demand has been raised on grounds of disallowance of certain expenses claimed by the company in its Income Tax Return (ITR) for Assessment Year 2019-20. Resulting in the addition of Rs 161.92 crore to the company's taxable income for the year in consideration. The company received the communication on March 17, 2026. The company claimed that the mentioned action does not have any adverse impact on its financial, operational, and other activities. Also, it has adequate legal and factual grounds to challenge the said order before the concerned appellate authorities.

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The company has made the aforementioned disclosure through a regulatory filing dated March 18, 2026, addressed to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), issued under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.