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Company Filings, Explained Simply

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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
LG Electronics India Ltd

LG Electronics India Fined Rs. 8.23 Crore by Income Tax Dept

REGULATORY ▼ Concern Flagged MEDIUM RISK
📅 Filed on BSE: 20 Jun 2026, 11:28 AM IST  ·  BSE ID: 08f16f05-3991-4cd1-b325-fdf13a7cb90c
View Original BSE Filing (PDF)
💡
In Simple Terms
The tax department has fined LG Electronics India over Rs 8 crore for a 2013-14 tax issue, which the company plans to appeal.
🤖 AI Summary
  • LG Electronics India ordered to pay INR 8,23,53,445 penalty by Income Tax Department.
  • Penalty relates to tax adjustments for incentives received from Uttar Pradesh Government in FY 2013-14.
  • Company disputes the penalty and intends to file an appeal before the appropriate authority.
  • No substantial impact on financial operations or activities is anticipated by the company.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Penalty Levied
INR 8,23,53,445
Tax Adjustments Confirmed by ITAT
INR 24,22,87,278
Financial Year of Penalty
2013-14
Date of Penalty Order Receipt
June 19, 2026
🏢 How This Affects the Company
💰
Financial Impact
The company has been levied a penalty of INR 8,23,53,445. The company believes there is no substantial impact on its financial operations and intends to appeal.
⚠️
Risk Impact
A new risk related to a penalty order from the Income Tax Department has been introduced, although the company believes its case is strong and intends to appeal.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders. Monitor future announcements regarding the company's appeal.
👤
Who Is Affected
All shareholders are potentially affected by the financial implication of the penalty, should the appeal be unsuccessful.
🔍
Management Signal
Management signals a proactive stance in contesting regulatory actions, aiming to protect the company's financial position.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Company's appeal filing status for the penalty order.
Outcome of the Delhi High Court appeal against the ITAT order.
Any further communication from the Income Tax Department regarding this penalty.
MEDIUM RISK A material penalty has been levied by the Income Tax Department, requiring an appeal process.
💡 Investor Takeaway
LG Electronics India received a penalty of INR 8,23,53,445 from the Income Tax Department for FY 2013-14, related to tax adjustments on government incentives. The company plans to appeal.
⚖️ Strengths & Concerns

✅ Positives

  • Company management expresses confidence in a strong case for appeal based on prior favorable ITAT rulings.
  • Company anticipates no substantial impact on financial operations or other business activities.

⚠️ Concerns

  • Penalty of INR 8,23,53,445 levied by Income Tax Department for FY 2013-14.
  • Tax Adjustments of INR 24,22,87,278 confirmed by Income Tax Appellate Tribunal for FY 2013-14.
📅 Company Track Record
Previously, on March 23, 2026, LG Electronics India received a draft tax assessment of Rs. 5,728 Million disallowances for FY 2022-23, which it is disputing.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What penalty was imposed on LG Electronics India by the Income Tax Department?
The Income Tax Department has levied a penalty of INR 8,23,53,445 on LG Electronics India under section 271(1)(c) of the Income Tax Act, 1961.
For which financial year is the penalty levied on LG Electronics India?
The penalty order is for the financial year 2013-14, related to tax adjustments concerning incentives received from the Uttar Pradesh Government.
What is the amount of tax adjustments confirmed by the ITAT for LG Electronics India?
The Income Tax Appellate Tribunal (ITAT) confirmed tax adjustments of INR 24,22,87,278 for Financial Year 2013-14.
What is LG Electronics India's stance on the penalty order?
LG Electronics India believes it has a strong case and intends to file an appeal before the appropriate authority against the penalty order.
What is the expected impact of the penalty on LG Electronics India's operations?
The company stated that there is no substantial impact on its financial operations or other activities.

Questions based on this BSE filing only. For information purposes.

⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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