Jubilant Ingrevia gets ₹19.87 cr tax order for AY 2023-24
Jubilant Ingrevia Limited received an assessment order from the Income Tax Department for AY 2023-24, involving notional adjustments of ₹19.87 crore related to international transactions. The company stated it is an ongoing issue and plans to file an appeal before the National Faceless Appeal Centre (NFAC). Management expects relief and does not anticipate any material adverse financial implication from the order.
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Jubilant Ingrevia Limited has received an assessment order from the Income Tax Department regarding its tax liabilities for Assessment Year 2023-24. The order, dated May 20, 2026, was issued by the Assessment Unit and pertains to the Financial Year 2022-23.
The regulatory disclosure details that the order involves notional adjustments under India Transfer Pricing Rules. These adjustments relate to international transactions conducted with Associated Enterprises. The total monetary impact of these adjustments is quantified at ₹19.87 crore.
Details of the Assessment Order
The company provided specific details regarding the nature of the action and the alleged violations in its filing to the exchanges. The table below outlines the key particulars of the assessment order and the company's response.
| S. No. | Name of the authority | Nature and details of the action(s) taken or order(s) passed | Date of receipt of direction or order | Details of the violation(s)/contravention(s) committed or alleged to be committed | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible |
|---|---|---|---|---|---|
| 1 | Assessment Unit, Income Tax Department | Assessment order dated May 20, 2026 passed by the Assessment Unit, Income Tax Department for Assessment Year 2023-24 (Financial Year 2022-23) | May 20, 2026 | Notional adjustments made by the Income Tax Department under India Transfer Pricing Rules in relation to international transactions with Associated Enterprises – Rs. 19.87 crs | Ongoing issue existing in preceding years as well. Company is in the process of filing an appeal before first level Appellate Authority and expects to get relief from the Appellate Authority and does not anticipate any material adverse financial implication |
Company Response and Future Action
Jubilant Ingrevia Limited has indicated that this is an ongoing issue that has existed in preceding years as well. In response to the assessment order, the company is currently undertaking the necessary steps to file an appeal. The appeal will be submitted before the National Faceless Appeal Centre (NFAC), which serves as the first-level Appellate Authority.
Management has expressed its expectation to obtain relief from the Appellate Authority regarding the impugned order. Consequently, the company stated that it does not anticipate any material adverse financial implication arising from this assessment order. The information was disclosed to the stock exchanges on May 21, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Historical Stock Returns for Jubilant Ingrevia
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.75% | -3.38% | -5.62% | -3.86% | +2.00% | +47.79% |
How have Jubilant Ingrevia's previous transfer pricing disputes with the Income Tax Department been resolved, and what has been the historical success rate of their appeals?
Could recurring transfer pricing adjustments signal a need for Jubilant Ingrevia to restructure its international transactions with Associated Enterprises to reduce future tax exposure?
How might escalating transfer pricing scrutiny across India's specialty chemicals sector impact foreign investment decisions and intercompany pricing strategies for similar companies?
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