The Income Tax Department has carried out a survey action against drug major Cipla, sources said on Tuesday.
The department is conducting the surprise action to check the balance sheets and other business documents of the Mumbai headquartered company as part of an alleged tax evasion investigation, they said.
As part of a survey, the Income Tax Department only covers the business premises of a company and does not raid the residences and other locations of its promoters or directors.
The company had last week reported, in a regulatory filing, a seven per cent increase in its consolidated net profit at Rs 808 crore in the third quarter ending December 2022, aided by robust sales in the US market.
ITR 2021-22: How to e-verify income tax return to complete filing process
Income tax return: Missed ITR 2021-22 deadline? Here's what to do next
Cipla Q2 net profit up 12% at Rs 797 crore, revenue rises to Rs 5,829 crore
Income Tax dept reduces time for taxmen to decide on refund adjustment
Low rate regime: Why corporation tax is a hit but not personal tax?
Tata Motors raises final tranche of Rs 3,750 crore from TRG Rise Climate
Adani takes over Haifa Port for $1.15 bn, promises to invest more in Israel
Adani to set up AI lab in Israel's Tel Aviv, develop real estate in Haifa
Vi to issue debentures worth Rs 1,600 cr to ATC after condition waiver
Delhi HC fixes Feb 13 for next hearing in DMRC-DAMEPL case, may pass order
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)