Alkem Labs Gets Appellate Relief in Rs 660.77 Crore Income Tax Dispute
New Delhi: Alkem Laboratories Limited has informed the stock exchanges that it has received favourable Orders-in-Appeal from the Commissioner of Income Tax (Appeals) - 47, Mumbai [CIT(A)], which deleted tax disallowances made under Section 80-IE of the Income-tax Act, 1961 involving a tax amount of Rs 660.77 crore.
The company disclosed the development under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, stating that the details of the orders have been provided in accordance with Clause 20 of Para A of Part A of Schedule III of the SEBI Listing Regulations.
According to the filing, the Commissioner of Income Tax (Appeals) – 47, Mumbai passed the Orders-in-Appeal for Assessment Years (AYs) 2018-19 to 2022-23, deleting the disallowances made under Section 80-IE of the Income-tax Act. The orders involve a tax amount of Rs 660.77 crore (Rupees Six hundred sixty crore and seventy-seven lakh only).
The company stated that the orders were received on June 30, 2026. The filing further explains that the matter arose after the Assessing Officer had disallowed part of the deduction claimed under Section 80-IE of the Income-tax Act in the reassessment orders passed under Sections 143(3)/144 read with Section 147 of the Act for Assessment Years 2018-19 to 2022-23.
Alkem Laboratories also clarified that the favourable appellate orders will have no material impact on the financial, operational or other activities of the company. According to the Alkem Laboratories regulatory filing, the Commissioner of Income Tax (Appeals) – 47, Mumbai, has deleted the tax disallowances made under Section 80-IE of the Income-tax Act for Assessment Years 2018-19 to 2022-23, involving a tax amount of Rs 660.77 crore. The company further stated that the orders do not have any material impact on its financial position, operations or other business activities.
Also Read: Bombay HC Finds ACIPROX Deceptively Similar to Alkem's ALCIPRO, Grants Injunction
