Drug-maker Cipla has said on Thursday that the Income Tax Department visited a few of its premises to verify records.
No further details were available on the premises that the I-T authorities visited.
“Cipla strictly abides by the law and pays all taxes as required by all relevant central, state and local departments. We regard these visits as routine and as expected are cooperating fully with the officials,” the company said.
Meanwhile, an I-T source said that the survey action was carried out by officers and support staff at various locations of the company. But the finding of the action would only be known on Friday, when the survey reports would be submitted by the officers to higher authorities.
Cipla’s traditional head-office is in Mumbai Central, but the company has recently also acquired office space in Lower Parel, the newer business area in the city.
The shares of the company closed 1.31 per cent lower at ₹380.45 on the NSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.