LG Electronics India Wins ITAT Appeal, ₹1,305 Cr Tax Additions Deleted

LG Electronics India Ltd has received a favorable order from the Income Tax Appellate Tribunal (ITAT) concerning income tax matters for financial years 2014-15, 2016-17, 2017-18, 2019-20, and 2021-22. The ITAT has completely deleted all additions related to Transfer Pricing and Corporate Income Tax, amounting to approximately ₹1,305 Crores. These deletions were based on an Advance Pricing Agreement (APA) for Transfer Pricing and previous ITAT orders for Corporate Tax. The company anticipates no adverse financial or operational impact, though the Income Tax Department may appeal the Corporate Tax decision.