I-T dept surveys pharma company run by former Railway minister's son

Chandigarh: The Income Tax department on Tuesday carried out search operation at a pharma company, which is run by former Railway Minister and Congress leader Pawan Kumar Bansal's son, said an I-T official.

The survey was conducted at seven locations that include Solan (Himachal Pradesh), Panchkula (Haryana), Mumbai and Chandigarh, the official added.

The search operation at the Theon Pharmaceuticals was launched at around 1 pm, and involved about 70 I-T sleuths from Punjab, Haryana and Chandigarh.

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The income tax department is trying to find out the culprits of alleged misuse of the tax incentives by the pharma company, the official pointed out.

It is worth mentioning that Theon Pharmaceuticals Ltd is a manufacturer of tablets, capsules, injectables and dry syrup formulations.