Announced Sat, 20 Jun · 11:27 IST
Income Tax penalty of Rs 8.23 crore for FY 2013-14
Regulatory & Legal View source PDF
LGEINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-6.2%1-day move
₹1695.20
prior close
₹1655.70
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AI summary
LG Electronics India received an Income Tax penalty order of about Rs 8.23 crore under section 271(1)(c) for financial year 2013-14, linked to tax treatment of UP government incentives worth about Rs 24.23 crore. ITAT had earlier confirmed the tax adjustments. Company says there is no substantial financial impact and plans to appeal, noting it has won similar penalty cases for earlier years.
Likely market impact
Company says no material financial hit; penalty is being appealed and similar past cases were decided in LG's favor.