Jubilant Pharmova has informed stock exchanges that it has received an income tax demand order amounting to Rs 22.10 crore for the financial year 2020, according to a regulatory filing made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements.
The order was issued by the Income Tax Department, DCIT/ACIT (Central), Moradabad, and was received by the company on December 30, 2025, at 4:23 PM IST. The demand primarily arises from arithmetical errors and mistakes apparent from records, along with certain disallowances of expenses, deductions, and transfer pricing adjustments, as stated by the company.
Jubilant Pharmova clarified that the tax demand has been raised ignoring the company’s submissions and explanations during the assessment process. The company believes that the order suffers from clear record-level errors and does not reflect the correct tax position.
In response, the company said it is in the process of filing a rectification application with the assessing officer and may also pursue an appeal before the Income Tax Appellate Tribunal (ITAT), if required. Management expects that the demand will be deleted following the rectification or appellate process.
Importantly, Jubilant Pharmova stated that it does not anticipate any material financial impact arising from the tax demand.
The company has also confirmed that the disclosure has been uploaded on its official website for investor reference.
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