Alkem Laboratories Receives Rs 333.38 Crore Tax Demand for AY 2023-24, Plans to Appeal:

Alkem Laboratories Receives Rs 333.38 Crore Tax Demand for AY 2023-24, Plans to Appeal Alkem Laboratories Limited, a top-five Indian pharmaceutical company specialising in generic and speciality drugs, recently issued a disclosure to the stock exchanges, i.e., BSE Ltd and NSE Ltd, regarding receipt of a demand order.

Also Read

Income Tax Department Issues Rs 149 Crore Demand to CRISIL Ltd Under Assessment Order; Appeal to be Filed by Company

Backstory of the case

The company stated that for Assessment Year 2023-24, the Income Tax Authority passed an order on 13th April 2026 under Sections 143(3) read with 144C(3) of the Income Tax Act, 1961. In this order, the Authority disallowed a part of the deduction claimed by the Company under Section 80IE and also made a transfer pricing adjustment. As a result, a tax demand of Rs. 333.38 crores has been raised and is currently under dispute. However, the Company is not required to make any payment against this demand as it has sufficient MAT credit available for adjustment.

Key details of the case

Particular	Details
Issuing Authority	Deputy Commissioner of Income Tax, Central Circle 8(1), Mumbai ("IT Authority")
Tax Amount	Rs 333.38 Crores
Date of receipt	24th April, 2026
Financial Impact	Nil
Details of Violation	Disallowance of part of the deduction claimed u/s 80IE and addition on account of transfer pricing adjustments.
Assessment Year	2023-24

Also Read

IIFL Subsidiaries Receive Income Tax demand worth Rs 56 Crore; Company Confident of Legal Stand

Company's Response

The Company believes that the above order is not valid and that it has strong facts and legal reasons to support its case. The Company plans to file an appeal against this order in accordance with the applicable laws.

Company's Disclosure

The company filed the above disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations").