Crompton Greaves Consumer Electricals Limited has informed the Exchange about Action(s) taken or orders passed
CROMPTON · price
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Crompton Greaves Consumer Electricals has received an order from the Commissioner of Income Tax (Appeals), Delhi, related to an appeal the company had filed against an earlier assessment for AY 2018-19. The order raises a tax demand of about ₹2.36 crore, mainly due to disallowance of warranty and after-sales service provisions, expenses for earning exempt income, education cess, and reduction in the 80IC deduction claim. The company says this will not have any material impact on its financials or operations. It plans to file a further appeal and expects a favourable outcome from higher appellate authorities.
The ₹2.36 crore demand is small relative to the company's size and is classified as non-material. However, it adds to ongoing tax litigation and could create minor uncertainty if the appeal goes against the company in the future.