💨 Abstract

Indian firm Piramal Enterprises received a tax demand of approximately $172 million for the 2021 sale of its pharmaceutical business to Piramal Pharma. Maharashtra's tax office is contesting it as an itemized sale rather than a slump sale, which would receive more preferential tax treatment. Piramal Enterprises expects the order to be overturned, stating solid grounds to challenge the demand.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖