Solara Active Pharma Sciences has informed that the Company had filed an application for rectification of the Demand under Section 154 of the Income Tax Act, 1961, on the grounds that the tax demand had been computed incorrectly by the Income Tax Department and required correction. Pursuant to the said application, the Company has received a Rectification Order under Section 154 read with Section 147 of the Income Tax Act, 1961, from the Assistant Commissioner of Income Tax, Central Circle 3, Thane. The order rectifies the error in the tax computation and consequently drops the Tax demand. The details as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are enclosed as Annexure A.
The above information is a part of company’s filings submitted to BSE.
