Panacea Biotec Share Price in Focus; ITAT Cancels ₹329.49 Crore Tax Demand

Panacea Biotec announced that it has received an order from the Income Tax Appellate Tribunal (ITAT), New Delhi, relating to tax proceedings covering several assessment years.  

As per the filing, the order, dated 27 February 2026, was received by the company on 10 March 2026. The case concerns tax assessments and appeals linked to earlier proceedings initiated by the tax authorities.  

The matter relates to assessment years between 2005-06 and 2012-13 and involves multiple appeals filed by both the tax department and the company over earlier rulings.  

Appeals Filed by Tax Department Dismissed 

According to the company’s disclosure, the tribunal dismissed 8 appeals filed by the Deputy Commissioner of Income Tax (DCIT), New Delhi. These appeals had challenged orders issued by the Commissioner of Income Tax (Appeals) in July 2015.  

The cases were linked to assessment orders passed earlier by the assessing officer under Sections 148 and 143(3) of the Income Tax Act. The appeals covered separate assessments for each of the years from 2005-06 to 2012-13.  

Company Appeals Allowed for 2 Years 

The tribunal also allowed 2 appeals filed by Panacea Biotec in connection with assessment years 2010-11 and 2011-12. These appeals were related to orders issued by the Commissioner of Income Tax (Appeals) on 27 July 2015.  

The original assessment orders in these cases had been issued under Sections 153A and 143(3) of the Income Tax Act by the assessing officer.  

Assessment Orders Set Aside 

In addition to the decisions on the appeals, the tribunal quashed the assessment orders issued by the assessing officer for all the years between 2005-06 and 2012-13.  

As a result, the disallowances of expenses made during those assessments have been removed. The tax demand of ₹329.49 crore raised earlier by the assessing officer in relation to those orders has also been cancelled.  

Read More: LIC Hit Hard by War Jitters: Banks and L&T Lead ₹70,105 Crore Loss! 

Panacea Biotec Share Price Performance  

As of March 11, 2026, 10:09 am, Panacea Biotec share price was trading at ₹354.85, a 0.31% increase from the previous closing price. 

Conclusion 

Following the ITAT ruling, the earlier assessment orders and related tax demand linked to the 8 assessment years stand set aside. The decision concludes the appeals relating to those assessments and removes the associated expense disallowances and tax liability. 

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