Crompton Greaves Consumer Electricals Limited has informed the Exchange about Action(s) initiated or orders passed
CROMPTON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crompton Greaves Consumer Electricals has received a rectification order from the Assistant Commissioner of Income Tax, Mumbai, for Assessment Year 2019-20, under Section 154 of the Income Tax Act. The order raises a total demand of ₹4.21 crore (inclusive of interest) on account of an alleged excess refund of tax. The company has stated it is evaluating its response based on the merits of the matter, prevailing law, and advice from its consultant. Importantly, the company has clarified that there is no material impact on its financials, operations, or other activities from this order.
This is a routine tax rectification matter involving a relatively small amount (₹4.21 crore) for an older assessment year, and the company has confirmed no material impact. Shareholders are unlikely to see a meaningful effect on the stock price, though the matter will be watched until resolved.