Patanjali Foods Ltd on Wednesday announced that the Supreme Court has quashed the Rs 186 crore tax demand imposed on the company. The move came as part of a Special Leave Petition (SLP) filed by the Principal Commissioner of Income Tax, Central 4. The SLP was filed against a ruling by the Bombay High Court.
“The demands of Rs 186 crore for pre–Corporate Insolvency Resolution process (CIRP) period raised by Income Tax Deptt. has been quashed by Hon’ble Supreme Court of India,” Patanjali Foods said in a regulatory filing.
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The Supreme Court of India had dismissed the SLP on January 15, 2025, in favour of Patanjali Foods, upholding the Bombay High Court’s decision. However, per the FMCG brand, it did not get notice of the hearing of the Supreme Court then and got the information of the same “from the website http://www.taxmann.com only on February 18, 2025 where this order was posted”.
The Income Tax Department had originally raised pre–CIRP demand for various assessment years and it was later quashed by the National Company Law Tribunal (NCLT). The department had preferred a Writ Petition which was dismissed by the Bombay High Court. The Income Tax Department had then filed the SLP against the order of the High Court of Bombay which was dismissed by the Supreme Court of India.
In the copy of the order passed by the Supreme Court, as shared by Patanjali Foods in the exchange filing, the Court had said, “…The Special Leave Petition is, accordingly, dismissed”.
Shares of Patanjali Foods were up 0.31 per cent at 11:30 pm to a trading price of Rs 1,823.95.
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