LG Electronics India Faces Rs 5,728 Million Tax Disallowance, Moves to Dispute Resolution Panel

LG Electronics India Faces Rs 5,728 Million Tax Disallowance, Moves to Dispute Resolution Panel

LG Electronics India Limited has disclosed to the stock exchange that it has received a Draft Assessment Order dated March 22, 2026, passed by the Assessment Unit, Income Tax Department of India, under Section 144C of the Income Tax Act, 1961, belonging to the Financial Year 2022-23 (Assessment Year 2023-24).

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The company had received the order on March 23, 2026. The order has made disallowances of Rs 5,728 Million (including Transfer Pricing disallowance of Rs 2,168.90 Million, which is a part of the Advance Pricing Agreement and will soon become ‘Zero’).

The company believed that the aforesaid Rs 5,728 Million disallowance made through the Draft Assessment Order is unjustified and will file an appeal challenging the same before the Dispute Resolution Panel. The company further claims that the said action does not impact its financial, operational and other activities in the financial market.

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The aforementioned disclosure has been made by the company through a regulatory filing dated March 23, 2026, addressed to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), issued under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.