LG Electronics India Limited has been issued a draft assessment order by the Income Tax Authority for the financial year 2022-23. This communication outlines disallowances amounting to ₹572.8 crore, with a significant portion related to transfer pricing.
On March 23, 2026, LG Electronics India received a draft assessment order dated March 22, 2026, under section 144C of the Income Tax Act, 1961. The order was issued by the Assessment Unit of the Income Tax Department of India.
The draft assessment order specifies disallowances totalling ₹572.8 crore. Of this amount, ₹216.89 crore pertains to transfer pricing disallowances, which are covered under an Advance Pricing Agreement and are expected to become nil.
LG Electronics India has stated that it will file objections before the Dispute Resolution Panel regarding the draft assessment order. The company has clarified that there will be no financial or operational impact due to this order.
Despite the substantial disallowances mentioned in the draft assessment order, LG Electronics India has assured stakeholders that there will be no financial or operational repercussions for the company. The order does not identify any aberrations or non-compliances, nor does it impose any penalties or sanctions.
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The company plans to address the draft assessment order by filing its objections with the Dispute Resolution Panel. This step is part of the procedural response to such communications from the tax authorities.
As of March 24, 2026, at 9:21 AM, LG Electronics India share price on NSE was trading at ₹1,479.20 down by 0.36% from the previous closing price.
LG Electronics India has received a draft assessment order for FY 2022-23, detailing disallowances of ₹572.8 crore. The company is set to challenge this order through the appropriate channels, ensuring compliance with regulatory requirements.
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Published on: Mar 24, 2026, 9:32 AM IST
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