Crompton Greaves Consumer Electricals Limited Appeals Tax Order
Crompton Greaves Consumer Electricals Limited announced today, April 1, 2026, that it has received an order from the office of the Commissioner of Income Tax (Appeals), National Faceless Appeals Centre, Delhi, confirming a previous assessment order from the Income Tax Department for Assessment Year 2023-24.The company had previously filed an appeal against the original assessment order. The current order pertains to demand related to disallowances concerning provision for warranty and after-sales services, depreciation on intangible assets, and ESOP expenses.
Crompton Greaves Consumer Electricals Limited intends to file an appeal against this order and anticipates a favorable outcome from appellate authorities.
The potential financial impact of the order, including tax and interest, amounts to ₹ 29,91,79,840, comprised of ₹ 24,59,14,553 in tax and ₹ 5,32,65,287 in interest. The company states that this outcome is not expected to have a material impact on its financial, operational, or other activities.
| Detail | Information |
|---|---|
| Authority | Commissioner of Income Tax (Appeals), National Faceless Appeals Centre, Delhi |
| Date of Order | March 31, 2026, 4:09 PM |
| Reason for Demand | Disallowance of provision for warranty and after sales services, depreciation on intangible assets and ESOP expenses. |
| Potential Financial Impact (Tax + Interest) | ₹ 29,91,79,840 (₹ 24,59,14,553 Tax + ₹ 5,32,65,287 Interest) |
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