Dr. Reddy’s Laboratories Gets ₹23.96 Billion Income Tax Notice

Dr. Reddy’s Laboratories has received a showcause notice from the Income Tax Department of ₹23.96 billion tax claim linked to its merger with Dr. Reddy’s Holdings. The notice relates to assessment year 2020–2021. The company said here is no escapement of tax pursuant to the merger scheme, citing terms approved by NCLT, and promoters are accountable for tax liabilities under the scheme.