Alkem Laboratories Limited has received an order from the Income Tax Department pertaining to the assessment year 2023–24, involving a disputed tax amount of Rs 333.38 crore.
According to the company’s official communication, the order was passed by the Deputy Commissioner of Income Tax, Central Circle 8(1), Mumbai, under Sections 143(3) read with 144C(3) of the Income Tax Act, 1961. The order involves partial disallowance of deductions claimed under Section 80IE along with transfer pricing adjustments.
Despite the sizeable disputed amount, Alkem clarified that there is no immediate tax liability payable, as the company has utilized available Minimum Alternate Tax (MAT) credits. The company emphasized that there is no expected cash outflow arising from this order.
The order, dated April 12, 2026, was officially received by the company on April 24, 2026. The alleged contraventions relate specifically to disallowance of certain deductions and additions due to transfer pricing adjustments.
Importantly, Alkem stated that the development will have no material impact on its financials, operations, or other business activities. The company also expressed confidence in its position, noting that it has adequate factual and legal grounds to challenge the order and intends to file an appeal under applicable laws.
Source from: https://medicaldialogues.in/news/industry/pharma/alkem-labs-slapped-with-rs-333-crore-tax-demand-plans-appeal-169484
