Income tax recovery: response shared against demands of ₹98.09 lakh and ~₹18.46 lakh for AYs 2011-12 to 2013-14
Indrayani Biotech has shared a detailed response with the Income Tax Department, Chennai, against a recovery letter for outstanding demands of ₹98.09 lakh (AY 2013-14) and ~₹18.46 lakh (AY 2011-12 & 2012-13).
By ScoutQuest · · 1 min read
- Tax Demand (AY 2013-14)
- ₹98.09 lakh
- Tax Demand (AY 2011-12 & 2012-13)
- ~₹18.46 lakh
- Company Stated Impact
- no immediate financial impact
What the company told the exchange
Indrayani Biotech has informed BSE that it has submitted a detailed response to the Income Tax Department, Chennai, against a Recovery Letter received for outstanding tax demands relating to Assessment Years 2011-12, 2012-13 and 2013-14. The authority named in the update is the Income Tax Officer, Corp. Ward 2(3), Chennai.
The two demands
- Assessment Year 2013-14: demand of ₹98.09 lakh. It originated from a Rectification Order u/s 154 dated 23.02.2017. The Income Tax Appellate Tribunal set aside that order on 02.11.2020 and remanded the matter back for fresh consideration. The company's position is that the demand therefore does not survive, and it has requested its deletion from outstanding demands.
- Assessment Years 2011-12 and 2012-13: demand of ~₹18.46 lakh. It was quantified on disallowance of excise duty payments. The company shared a First Appeal, with evidence of payments, and that appeal is pending adjudication. It has requested that recovery proceedings be kept in abeyance.
What the company says about impact
The update states that there is no immediate financial impact. It adds that the company has strong legal grounds on merits and that appropriate legal and statutory remedies are being pursued before Appellate Authorities.
What to watch
Both matters sit at a response or appeal stage rather than a final outcome. For Assessment Year 2013-14 the company has sought deletion of the demand; for Assessment Years 2011-12 and 2012-13 it has sought that recovery be held in abeyance pending the appeal. How these requests are dealt with by the authorities will determine the next step.
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Independent Director K.S. Vaidyanathan resigns; relieved from close of business hours on 13 October, 2026
13 Oct 2026
Consolidated results for the 6/30/2026
7 Oct 2026
Board approves unaudited results for quarter ended June 30, 2026; reconstitutes three board committees
7 Oct 2026
More numbers
- Tax demand – Assessment Year 2013-14₹98,09,000
- Tax demand – Assessment Years 2011-12 & 2012-13₹18,45,520
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