Alkem Laboratories Receives Favourable Income Tax Order Reversing Disallowances Worth Rs 660.77 Crores
Alkem Laboratories Limited has received favorable Orders-in-Appeal from a statutory authority regarding its tax matters under the Income-tax Act, 1961. The orders relate to disallowing previously made deductions under section 80-IE of the Act for several assessment years.The Commissioner of Income Tax, Appeal - 47, Mumbai (CIT(A)) passed the beneficial orders on June 30, 2026. These orders specifically delete previous disallowances that were applied to Alkem Laboratories Limited across Assessment Years (AYs) 2018-19 to 2022-23.
The re-assessment orders had previously disallowed a part of the deduction claimed under section 80-IE of the Act, which was done in connection with assessment years spanning 2018-19 to 2022-23. The reversal by CIT(A) involves a tax amount amounting to Rs 660.77 Crores (Rupees Six hundred sixty crores and seventy seven lakhs only).
The financial impact of this outcome is noted as having no material effect on the operations or activities of the company, according to reports from the involved authorities.
Key details of the income tax order are summarized below:
| Assessment Years | Authority Involved | Action Taken by CIT(A) | Tax Amount Reversal |
|---|---|---|---|
| AY 2018-19 to 2022-23 | Commissioner of Income Tax, Appeal - 47, Mumbai | Deleted disallowances under section 80-IE of the Act | Rs. 660.77 Crores |
The resolution comes after the original assessment orders were passed by the Assessing Officer under sections 143(3)/144 read with section 147.
ALKEM Stock Price Movement
Shares of Alkem Laboratories Limited slipped today by 0.13%, settling at ₹5567.5 after shedding ₹7.50 in the market close. The stock traded within a range, touching a low of ₹5514 and a high of ₹5639, with 128,296 shares exchanged.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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