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Mankind Pharma, a pharmaceutical company, has received tax demand orders from the Income Tax Department for Assessment Years (AY) 2014-15 to 2017-18, totalling ₹183.11 crore, including interest. The demand arises from the disallowance of various expenditures under Section 37(1) of the Income-tax Act, 1961. The orders were issued by the Office of the Deputy Commissioner of Income Tax, Central Circle 29, New Delhi, and were received by the company through the IT portal on March 28, 2025.
Mankind Pharma has stated that it believes the tax demand is not legally justified and that it has strong factual and legal grounds to challenge the order. The company is planning to appeal the order under applicable laws. Despite the demand, Mankind Pharma believes that the order will not have any material impact on its financials or operations.
The company’s position on the tax demand is likely to be closely monitored by investors, who will be watching to see how the company navigates this challenge. The dispute highlights the potential risks and complexities associated with tax compliance and the need for companies to have robust tax planning and litigation strategies in place to mitigate such risks.
In summary, Mankind Pharma has received tax demand orders from the Income Tax Department for Assessment Years 2014-15 to 2017-18, totalling ₹183.11 crore, including interest. The company believes the demand is not legally justified and plans to appeal the order under applicable laws. The situation will be closely monitored by investors as the company navigates this tax challenge.