New Delhi: The Income Tax Department has moved to the appellate tribunal, ITAT, challenging the tax relief granted to Dr Lal PathLabs for an expense of Rs 32.66 cr, the diagnostic services provider said on Thursday.
Dr Lal PathLabs, in a regulatory filing, said that it received an intimation on Wednesday regarding an appeal filed by the I-T Department before the Income Tax Appellate Tribunal (ITAT), New Delhi.
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, the filing said.
The order provided relief to the company against the disallowance of ESOP expenses amounting to Rs 32,66,18,927.
Dr Lal PathLabs said it “does not reasonably expect the outcome of the appeal to have any material impact” on the company.
