Crompton Greaves Consumer Electricals Limited announced it received an order from the Income Tax department regarding the assessment year AY 2019-20. The order pertains to a rectification application and imposes a total tax demand, inclusive of interest, amounting to INR 4,21,07,197/-. The company is currently reviewing the matter based on legal advice, confirming that the demand, while quantified, is not expected to have a material impact on its financials or operations.
Regulatory Disclosure on Tax Order
Crompton Greaves Consumer Electricals Limited has formally intimated the receipt of an order from the Assistant Commissioner of Income Tax, Circle-5(1)(1), Mumbai. This communication relates to the assessment period AY 2019-20, following a rectification application previously filed by the Company concerning tax computation adjustments.
Details of the Demand Imposed
The central issue addressed by the order is the demand raised against an alleged excess refund of tax. The authority has directed the Company to comply, resulting in a total quantified financial liability:
- Total Demand Amount: INR 4,21,07,197/- (inclusive of interest).
- Date of Receipt: March 18, 2026, at 7:13 A.M.
Company Assessment and Impact
The Company confirmed it is actively engaged in evaluating its response to the tax department. This evaluation is being conducted based on the merits of the matter, current prevailing laws, and consultation with external advisors. Importantly, despite the imposition of this demand, the management has concluded that:
There is no material impact on the financials, operations, or other activities of the company as a result of this order.
Source: BSE
