Whirlpool of India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
WHIRLPOOL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Whirlpool of India has received a draft assessment order from the Income Tax department for Assessment Year 2023-24, proposing a total disallowance of INR 28.39 Crore. The disallowance includes INR 21.31 Crore in Transfer Pricing adjustments and INR 7.08 Crore in adjustments under section 43B by the Centralized Processing Centre. The company's expected total liability is INR 7.14 Crore plus interest and penalty once a final order is passed. The company believes the proposed additions are not maintainable and is in the process of filing objections before the Dispute Resolution Panel. Management has stated there is no material impact on operations or other activities.
The tax dispute is in early stages and the company is contesting it, so the impact is not yet crystallized. The INR 7.14 Crore potential liability is relatively small for Whirlpool of India, and management has confirmed no operational impact, so this is unlikely to materially affect the stock price in the near term.