Sun Pharma Advanced Research :Wins ₹27.51 Crore Tax Refund

DHARMESH BHATT (Research Analyst) SEBI Registration No. INH000009685

Sun Pharma Advanced Research Company Limited (SPARC) has announced a favorable outcome in its ongoing tax litigation before the Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Mumbai. Key Highlights : * Legal Victory & Revenue Appeal Dismissed: CESTAT Mumbai upheld the Order-in-Appeal dated April 27, 2018, which was previously passed in favor of SPARC. The tribunal dismissed the appeal filed by the Revenue department, effectively concluding the litigation. * Financial Impact: The tribunal confirmed SPARC’s entitlement to a refund of accumulated CENVAT credit totaling ₹2,751 Lakhs (₹27.51 Crore). * Interest Included: The ruling confirms that the company is entitled to the refund along with consequential interest, where applicable. * Regulatory Compliance: The disclosure was submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following up on initial disclosures made on August 14, 2023.