The income tax (IT) department is currently conducting search operations at Micro Labs, the manufacturer of the popular over-the-counter paracetamol tablet 'Dolo', CNBC-TV18 has learnt.
Micro Labs produces Dolo 650, a pill that manages fever and which in the recent past triggered outrageous sales.
The sales have been under the IT radar for quite some time. The search operations are being conducted in Bengaluru. The top management and the senior officials including the CMD and director have been covered under the search, which is with respect to the alleged unaccounted income that has not been declared by the firm and officials.
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The pharma sector has been under the I-T department's scanner for quite some time for unaccounted income and various violations of the I-T Act.
The I-T department has in the past conducted search operations at other pharma companies as well. It had conducted search operations at Hetero, which was also the manufacturer of Remdesivir injection, which was widely-used to treat critical COVID-19 patients.
Watch the accompanying video of CNBC-TV18’s Timsy Jaipuria for more details.
First Published: Jul 6, 2022 3:35 PM IST