Companies

I-T Department ‘verifies’ Cipla records

| Updated on: Mar 06, 2014

The finding of the action would be known on Friday, when the survey reports would be submitted by the officers to higher authorities.

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.

Published on March 06, 2014

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