ALFA Filings
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Panacea Biotec received four income tax demand orders totaling ₹9.82 Crore for alleged misreporting. The company contests this as non-maintainable and plans to appeal.
Panacea Biotec's subsidiary received a GST Show Cause Notice. The notice alleges a total tax liability of ₹4.06 Crore for FY 2022-23.
Panacea Biotec filed a High Court appeal against an industrial tribunal award involving 23 workmen. The court granted interim relief, preventing coercive steps against the company.
Panacea Biotec filed appeals against three tribunal awards and will challenge a fourth. The company believes the awards are challengeable and foresees no material financial impact.
Panacea Biotec Ltd won a favorable order from the ITAT, Delhi, resulting in the cancellation of a ₹9.16 Crore tax demand for AY 2020-21. The tribunal set aside the previous disallowance of ₹3.44 Crore in expenses, marking a positive financial outcome for the company regarding its ongoing tax litigation.
Panacea Biotec Limited received four tribunal awards regarding labor disputes dating back to 2014. The Tribunal set aside workman transfers and awarded reinstatement with back wages. The company plans to challenge these orders in the Punjab and Haryana High Court and does not foresee a material financial impact at this stage.