Panacea Biotec AY16-17 Tax Demand Nullified

Panacea Biotec received a rectified income tax order nullifying a ~₹10.23 crore demand for Assessment Year 2016-17.
The Deputy Commissioner of Income Tax corrected errors including double disallowances and omission of loss set-off.
The company disclosed this material event under SEBI LODR Regulation 30, confirming no adverse financial impact.
The rectification application was filed under the Income Tax Act, 1961, and the new order was received on April 06, 2026.