Crompton Greaves Consumer Electricals Receives Income Tax Demand Notice
Crompton Greaves Consumer Electricals Limited announced today, March 27, 2026, that it has received a notice of demand under Section 156 of the Income Tax Act of 1961 from the office of the Assessment Unit, Income Tax Department, Mumbai. The demand totals ₹42,60,90,820, comprising ₹34,53,31,204 in tax and ₹8,07,59,616 in interest for the Assessment Year 2024-25.The demand is related to disallowances including ESOP expenses, provisions against warranty and after-sales service expenses, depreciation on intangible assets, and payments to non-filers of income tax returns.
The company anticipates a favorable outcome at the Appellate level and plans to file an appeal before the National Faceless Appeal Centre (NFAC). Management believes the demand will have no material impact on the company's financial or operational activities. The potential financial impact is quantified at ₹42,60,90,820.
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