The company is contesting the demand and would file an appropriate appeal against this order
Sun Pharma Advanced Research Company (SPARC) has received a demand notice from the income tax department for payment of Rs 27.30 crore for the assessment year 2014-15. The company is in “receipt of a ‘Demand Notice’ under section 156 of the Income Tax, 1961, demanding the payment by the company of a sum of Rs 27.30 crore for the assessment year 2014-15,” SPARC said in a filing to BSE.
The company is contesting the demand and would file an appropriate appeal against this order within the stipulated period, it added.