The income tax department’s investigation into Alkem Laboratories revealed large-scale tax evasion by the company. The investigation involved surveys, statements from officials, and scrutiny of data and balance sheets.
Allegations include bogus deductions for manufacturing units in Sikkim amounting to over Rs 1,000 crore, and payments to doctors for prescribing company-made drugs, totaling hundreds of crores. The probe is expected to result in heavy penalties for Alkem Labs.
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