Panacea Biotec Wins ITAT Appeal, ₹9.16 Crore Tax Demand Cancelled

Panacea Biotec received favorable ITAT order dated April 29, 2026, setting aside CIT(A) order and rectified assessment.
ITAT cancelled ₹9.16 crore tax demand for AY 2020-21 arising from ₹3.44 crore Section 14A disallowance.
The order results in deletion of expense disallowances and complete cancellation of the tax demand.
Disclosure made under SEBI LODR Regulation 30 as material event with positive financial implications.