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SPARC gets IT department demand notice for Rs 27.30 crs

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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.

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