Income Tax Department imposes Tax Demand of Rs 4.21 Crore on Crompton Greaves over alleged excess refund:

Income Tax Department imposes Tax Demand of Rs 4.21 Crore on Crompton Greaves over alleged excess refund Crompton Greaves Consumer Electricals Limited has recently informed the stock exchanges that it has received an income tax order raising a demand of Rs 4.21 crore. The demand order relates to Assessment Year 2019-20 due to the alleged extra tax refund.

Background of Case

The department passed an order under section 154 of the Income Tax Act against a rectification application filed by Crompton. As per the company, the demand is raised against the alleged excess refund of tax for the assessment year 2019-20.

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Key Details of the Order

Particulars	Details
Issuing Authority	Assistant Commissioner of Income Tax, Circle-5(1)(1), Mumbai
Type of Order	Rectification order under Section 154 of Income Tax Act, 1961
Date of Receipt	March 18, 2026 at 7:13 A.M.
Assessment Year	2019-20
Total Demand	Rs 4,21,07,197 (inclusive of interest)

Company's Next Step

Crompton Greaves is currently examining its response to the department based on the facts of the case, prevailing law and legal advice.

Financial Impact

Crompton said that the potential financial impact of the order is Rs 4,21,07,197. However, it clarified that there is no material impact on the financials, operations, or other activities.

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Company's Disclosure Compliance

The above disclosure was made by Crompton to the stock exchanges, NSE and BSE, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.