LG Electronics India Limited Receives Draft Assessment Order for FY 2022-23
LG Electronics India Limited announced that it received a Draft Assessment Order from the Income Tax Department of India for the financial year 2022-23, dated March 22, 2026. The draft order includes disallowances totaling Rs 5,728 Million.According to the order, this amount includes a Transfer Pricing disallowance of Rs 2,168.90 Million, which is covered under an Advance Pricing Agreement and will be reduced to Nil. The company plans to file objections with the Dispute Resolution Panel regarding the Draft Assessment Order.
The receipt of this draft order does not anticipate any financial or operational impact on LG Electronics India Limited. The company is taking action by preparing to file objections before the Dispute Resolution Panel.
Below is a summary of the details received:
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Name of the listed company | LG Electronics India Limited |
| 2 | Type of communication received | Draft Assessment Order dated March 22, 2026 under section 144C of the Income Tax Act, 1961 |
| 3 | Date of receipt of communication | March 23, 2026 |
| 4 | Authority from whom communication received | Assessment Unit, Income Tax Department of India |
| 5 | Brief summary of the material contents of the communication received, including reasons for receipt of the communication | The Company has received a Draft Assessment Order for the FY 2022-23 in which disallowances amounting to Rs 5,728 Million is made. The aforesaid amount includes, Transfer Pricing disallowance of Rs. 2,168.90 Million which are covered under Advance Pricing Agreement and would become Nil. The Company will file its objections before the Dispute Resolution Panel against aforesaid Draft Assessment Order. |
| 6 | Period for which communication would be applicable, if stated | Financial Year 2022-23 |
| 7 | Expected financial implications on the listed company, if any | Due to this draft Assessment order there is no financial or operational impact on the company. |
| 8 | Details of any aberrations/ non- compliances identified by the authority in the communication | Not Applicable |
| 9 | Details of any penalty or restriction or sanction imposed pursuant to the communication | Not Applicable |
| 10 | Action(s) taken by listed company with respect to the communication | The Company will file its objections before the Dispute Resolution Panel. |
| 11 | Any other relevant information | Nil |
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