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.
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.
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.