Syngene International Secures Rs 8.62 Crore Income Tax Refund After NFAC Grants Partial Relief:

Syngene International Limited has informed the stock exchanges that on July 06, 2026, it received an order dated May 14, 2026, passed by the Deputy Commissioner of Income-tax (DCIT), Circle 6(1)(1), Bangalore (Assessing Officer). The order has given effect to an earlier order passed by the National Faceless Appeal Centre (NFAC) for the Assessment Year 2014-15.

The company discloses that on December 23, 2016, the Assessing Officer (AO) issued an order under Section 143(3) of the Income-tax Act, disallowing the deduction claimed by the company and raising a demand of Rs 16.72 crore. Challenging the same order, the company had filed an appeal on January 24, 2017, before the National Faceless Appeal Centre (NFAC).

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Subsequently, the AO passed another order dated March 08, 2017, under section 154 of the Act, thereby increasing the earlier demand from Rs 16.72 crore to Rs 33.69 crore. Deciding on the company's appeal, the NFAC passed an order dated February 13, 2026, under section 250 of the Act and disposed of the appeal by partly holding in the company's favour. The company disclosed the same information via an Intimation No. Syn/CS/SE/Reg30/2025-26/Feb/03, dated February 14, 2026.

Now, the AO has passed another order giving effect to the NFAC's order dated February 13, 2026, and granted a refund of Rs 8.62 crore (interest included). The company has clarified that it has not received the refund amount; it is yet to be received.

It has further been clarified by the company that the present action does not impact its financial, operational and business operations. There will be a decrease in contingent liability in relation to AY 2014-15.

Syngene International Limited has made the aforementioned disclosure in pursuance of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, through an Intimation dated July 07, 2026. The intimation is addressed to the National Stock Exchange of India (NSE) and Bombay Stock Exchange Limited (BSE).