Mankind Pharma hit with Rs 183.11 crore tax demand by IT Dept
New Delhi: Mankind Pharma has been issued tax demand orders by the Income Tax Department for Assessment Years (AY) 2014-15 to 2017-18, amounting to Rs 183.11 crore, including interest.
"The IT Authority vide above assessment orders has raised additional tax demand (including interest) of INR 183.11 crores under Section 147 read with Section 143(3) of the Income-tax Act, 1961 (‘the Act’) on account of disallowance of various expenditures u/s 37(1) of the Act," the Company informed in a BSE filing.
Orders dated 24th March, 2025 were for AY 2014-15 & 2016-17 and Orders dated 25th March, 2025 were for AY 2015-16 & 2017-18. The said orders were received through IT Portal on 28th March, 2025.
The Company believe that the demand under the above referred Order is not tenable in law.
The Company has adequate factual and legal grounds to substantiate its position and does not expect any material impact on financials or operations of the Company due to the said order.
The Company would pursue appeal against the said order under the applicable laws.
Founded in 1991 and commenced operation in 1995, Mankind Pharma is a pharmaceutical company engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
