From The Economic Times · PTI · · 40s
I-T Dept Challenges Tax Relief for Dr Lal PathLabs
Income Tax Department appeals Rs 32.66-cr tax relief granted to Dr Lal PathLabs.
In brief
Income Tax Department appeals Rs 32.66-cr tax relief granted to Dr Lal PathLabs. The Income Tax Department has moved to the appellate tribunal to challenge tax relief of Rs 32.66 crore granted to Dr Lal PathLabs for ESOP expenses. Originally reported by The Economic Times.
Tax Relief Challenge
The Income Tax Department has moved to the appellate tribunal, ITAT, challenging tax relief granted to Dr Lal PathLabs for Rs 32.66 crore.
“the department has challenged an order passed by the commissioner of income tax appeals granting relief to the company for assessment year 2022-23 under section 250 of the income tax act 1961”
Tax Relief Details
Dr Lal PathLabs received tax relief against disallowance of ESOP expenses amounting to Rs 32,66,18,927.
“the order provided relief to the company against the disallowance of esop expenses amounting to rs 32,66,18,927”
Company Stance
Dr Lal PathLabs stated it does not reasonably expect the appeal outcome to impact the company materially.
“it does not reasonably expect the outcome of the appeal to have any material impact”
In short
The Income Tax Department has moved to the appellate tribunal to challenge tax relief of Rs 32.66 crore granted to Dr Lal PathLabs for ESOP expenses.
