Akums Subsidiaries Receive Rs 22 Crore Income Tax Demands Over Expense Disallowances
New Delhi: Akums Drugs and Pharmaceuticals has informed stock exchanges that four wholly-owned subsidiaries of the company have received assessment orders from the Income Tax Department under Section 158BC of the Income Tax Act, 1961 for the block period from April 1, 2018 to March 12, 2025.
According to the company’s regulatory filing, the assessment orders were received by Maxcure Nutravedics Limited, Pure and Cure Healthcare Private Limited, Malik Lifesciences Private Limited and Nicholas Healthcare Limited. The orders were issued by the Office of the Deputy Commissioner of Income Tax, Central Circle 1, New Delhi.
Maxcure Nutravedics Limited received a tax demand of Rs 15.23 crore on account of disallowance of various expenditures under Section 37(1) of the Income Tax Act. Pure and Cure Healthcare Private Limited received a tax demand of Rs 5.77 crore related to disallowance of various expenditures under Section 37(1) of the Act.
Malik Lifesciences Private Limited received a demand of Rs 80.49 lakh, while Nicholas Healthcare Limited received a tax demand of Rs 44.97 lakh on similar grounds related to expenditure disallowances.
The company stated that the assessment orders for Maxcure Nutravedics Limited and Pure and Cure Healthcare Private Limited were dated May 20, 2026 and received on May 21, 2026 at 12:08 PM IST. Meanwhile, the orders for Malik Lifesciences Private Limited and Nicholas Healthcare Limited were dated May 21, 2026 and received on May 22, 2026 at 9:55 AM IST
According to the filing, the disallowances were carried out mainly on account of various expenditures claimed under Section 37(1) of the Income Tax Act.
Akums Drugs and Pharmaceuticals said all four subsidiaries do not expect the assessment orders to have any material financial impact as the demands are considered legally unsustainable and defendable based on facts of the case. The company further stated that the subsidiaries will pursue appeals against the assessment orders under applicable legal provisions.
