Crompton Greaves Consumer Electricals Limited to Appeal Income Tax Order
Crompton Greaves Consumer Electricals Limited announced on April 2, 2026, that it received an order from the office of the Commissioner of Income Tax (Appeals), National Faceless Appeals Centre, Delhi, confirming an earlier assessment order from the Income Tax Department for Assessment Year 2022-23.The company had previously appealed the initial assessment order. The latest order pertains to disallowances related to provisions for warranty and after-sales services, depreciation on intangible assets, and ESOP expenses.
According to the company, the potential financial impact of the order is ₹ 68,66,59,820, comprised of ₹ 57,12,90,684 in tax and ₹ 11,53,69,136 in interest. Crompton Greaves Consumer Electricals Limited stated that it plans to file an appeal against the order and anticipates a favorable outcome from appellate authorities. The company indicated that this event will not have a material impact on its financials, operations, or other activities.
| Detail | Information |
|---|---|
| Action/Order | Order from Commissioner of Income Tax (Appeals) under Section 250 of Income Tax Act |
| Date Received | April 2, 2026 |
| Authority | Commissioner of Income Tax (Appeals), National Faceless Appeals Centre, Delhi |
| Violation Details | Disallowances of warranty provisions, depreciation on intangible assets, ESOP expenses |
| Financial Impact (Potential) | ₹ 68,66,59,820 (Tax: ₹ 57,12,90,684; Interest: ₹ 11,53,69,136) |
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