LG Electronics India receives INR 8.23 crore tax penalty for FY 2013-14

LG Electronics India Limited received a penalty order of INR 8,23,53,445 from the Income Tax Department regarding financial year 2013-14. The order, dated June 19, 2026, levies a penalty under section 271(1)(c) of the Income Tax Act, 1961. The company disclosed that the penalty follows tax adjustments confirmed by the Income Tax Appellate Tribunal (ITAT) concerning the taxability of incentives received from the Uttar Pradesh Government amounting to INR 24,22,87,278.

The ITAT had issued an order on October 15, 2025, confirming these tax adjustments for FY 2013-14. Following this, the Income Tax Department issued the penalty order on June 19, 2026. The company has already filed an appeal in the Delhi High Court against the ITAT order regarding the tax adjustments and now intends to file an appeal against the penalty order before the appropriate authority.

Details of the Penalty Order

The company provided specific details regarding the regulatory action in its filing to the exchanges. The table below outlines the key particulars of the order and the associated violations.

Sr. No.	Particulars	Details
1	Name of the Authority	Assessment Unit, Income Tax Department
2	Nature of action	Penalty order issued for FY 2013-14 under section 271(1)(c) of the Income Tax Act, 1961
3	Date of receipt	June 19, 2026
4	Details of violation	Penalty levied subsequent to ITAT confirming tax adjustments on incentives from UP Government (INR 24,22,87,278)
5	Impact	No substantial impact on financial operations or activities

Company Response and Future Action

LG Electronics India Limited stated that the penalty order will not have a substantial impact on its financial operations or activities. The management believes it has a strong case for the appeal, citing that similar penalty proceedings for earlier financial years, specifically FY 2002-03, FY 2003-04, and FY 2006-07, have already been decided in favor of the company by the ITAT. The company confirmed its intention to challenge the current penalty order.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.48%	+6.34%	+6.28%	+1.88%	-4.91%	-4.91%

LG Electronics India will host a One-on-One meeting with Bajaj Life Insurance on June 24, 2026, at its Corporate Office in Noida. The session is organized to engage with the institutional investor and discuss business performance based on publicly available data.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company clarified that no Unpublished Price Sensitive Information (UPSI) will be shared during the discussion.

Meeting Schedule

The following table details the schedule of the upcoming meeting:

Sr. No.	Date	Investor Name	Nature of the Meeting	Location	Time
1	24.06.2026	Bajaj Life Insurance	One-on-One	Corporate Office, Noida	14:30-15:30 IST

Disclosure Details

The company stated that the date and time provided are subject to change due to exigencies on the part of investors or the company. Anuj Goyal, Company Secretary and Compliance Officer, signed the disclosure on June 19, 2026.