AstraZeneca Pharma India Slapped Rs 11.88 Cr Tax Adjustment for FY23, to Move ITAT
New Delhi: AstraZeneca Pharma India Limited has received a final assessment order from the Assessment Unit of the Income Tax Department for the assessment year 2022-23, involving proposed adjustments related to legacy transfer pricing and corporate tax matters, the company informed stock exchanges.
In a regulatory disclosure, the company said the order was passed under Section 143(3) read with Sections 144C(13) and 144(B) of the Income Tax Act, 1961. The final order follows a draft assessment order that had earlier been disclosed to the stock exchanges on March 19, 2025.
According to the details provided by the company, the assessment order proposes adjustments on legacy transfer pricing issues as well as corporate tax matters. AstraZeneca Pharma India clarified that the order represents a subsequent development to the earlier draft assessment communicated to investors.
The company further stated that it will challenge the assessment order before the Income-tax Appellate Tribunal (ITAT) by filing an appeal. The matter will be contested in accordance with applicable legal provisions.
With regard to the financial impact, the company said that the expected overall financial implications cannot be determined at this stage. However, the quantum of claims involved is approximately ₹11.88 crore, excluding interest and penalty, as mentioned in the disclosure.
According to AstraZeneca Pharma India Limited, the disclosure has been made in compliance with the SEBI circular dated July 13, 2023, and the company will take appropriate legal steps in due course to safeguard its interests.
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