Income Tax department searches premises of Dolo-650 makers
The Hindu
Officials said the department is looking at financial documents, balance sheets and business distributor networks of Micro Labs Ltd
The Income Tax department Wednesday conducted searches at the premises of Bengaluru-based pharmaceutical company Micro Labs Ltd, the manufacturers of Dolo-650 tablet that was widely used by COVID-19 patients during the last over two years, on charges of alleged tax evasion.
Officials said the department is looking at financial documents, balance sheets and business distributor networks of the company as part of the searches.
The PTI has sent queries on the action to the company and a response is awaited.
Some other linked locations of the company in other cities and those of its promoters and distributors are also being covered, they said.
The company said on its website that it was engaged in the making and marketing pharmaceutical products and APIs (Active Pharmaceutical Ingredients) and has 17 manufacturing units across the country apart from conducting business overseas.
Its major pharma products are Dolo-650, Amlong, Lubrex, Diapride, Vildapride, Olmat, Avas, Tripride, Bactoclav, Tenepride-M and Arbitel.