Cipla receives a ₹773.44 crore tax demand notice from India's income tax department for assessment years 2015-23.
Cipla, India's leading pharmaceutical manufacturer, received a ₹773.44 crore tax demand notice from the income tax department for assessment years 2015-16 to 2022-23. The tax authority claims rule violations, including short deductions, weighted deductions, and disallowances of various expenses under the Income Tax Act Section 37(1). The demand excludes any refund for the mentioned assessment years.
July 16, 2024
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