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The Income Tax Department carried out search seizure operations on 24.02.2021 on a major Pharmaceutical group based out of Hyderabad. This Pharmaceutical group is engaged in the business of manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations. Majority of the to
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FAQ :
The search and seizure operations were conducted on 24.02.2021.
The group is engaged in the manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs), and formulations.
The search operation was carried out at approximately 20 locations spread across 5 states.
Cash amounting to Rs. 1.66 crore was seized during the searches.
The search led to the unearthing of evidence relating to unaccounted income of around Rs. 400 crore.
The assessee group has admitted an additional income of Rs. 350 crore.
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