Crompton Greaves Consumer Electricals Limited Receives Order from Income Tax Appeals Centre
Crompton Greaves Consumer Electricals Limited announced that it received an order from the office of the Commissioner of Income Tax (Appeals), National Faceless Appeals Centre, Delhi, pertaining to the assessment year 2021-22. The order, issued under Section 250 of the Income Tax Act of 1961, relates to an appeal filed by the company against an assessment order dated December 20, 2022.The order concerns disallowances related to the provision for warranty and after-sales services, depreciation on intangible assets, and Employee Stock Option (ESOP) expenses. The potential financial impact of the order amounts to Indian Rupees 10,22,94,841, comprising Indian Rupees 9,77,56,823 in tax and Indian Rupees 45,38,018 in interest.
According to the company, the impact on its financial, operational, or other activities is not material. Crompton Greaves Consumer Electricals Limited intends to file an appeal against the order and anticipates a favorable outcome from the appellate authorities. The order was received on March 30, 2026, at 4:07 PM.
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