Jubilant Pharmova’s Jubilant Biosys Faces ₹53.37 Crore Tax Disallowance, Company Moves NFAC To Challenge AY20 Order

Mumbai: Jubilant Biosys, a wholly owned subsidiary of Jubilant Pharmova, received a rectification order on 29 June 2026 from the jurisdictional Assessing Officer in Noida. The order relates to Assessment Year 2019-20 (Financial Year 2018-19).

Tax Disallowance Details

The order disallows a claim of brought forward losses amounting to Rs 53.37 crore under Section 143(1) of the Income-tax Act, 1961.

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Company Response

Jubilant Pharmova believes the tax adjustment disregards facts, company contentions, and legal provisions. The company announced its intention to file an appeal.

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Appeal Strategy

Jubilant Pharmova is in the process of filing an appeal before the National Faceless Appeal Centre (NFAC), the first-level Appellate Authority. The company expects the impugned adjustment to be deleted following adjudication by the Appellate Authority, and does not anticipate any material adverse financial implication.

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Jubilant Pharmova’s Jubilant Biosys Faces ₹53.37 Crore Tax Disallowance, Company Moves NFAC To Challenge AY20 Order

Jubilant Pharmova's subsidiary, Jubilant Biosys, received a rectification order disallowing Rs 53.37 crore in brought forward losses. The company plans to appeal the order, expecting relief and no material adverse financial impact.