Nature of the Event
3i Infotech Limited has provided an update regarding the settlement of historical income tax litigations under the Direct Tax Vivad Se Vishwas Scheme, 2024.
Key Quantitative Figures
The settlement covers disputed income tax matters for Assessment Years 2012-13, 2013-14, 2014-15, 2016-17, and 2018-19. The aggregate disputed additions/disallowances amounted to approximately ₹79,838 lakhs (₹798.38 crores).
Dates of Action
The final settlement orders in Form 4 were received on September 02, 2026, at 5:38 p.m. This disclosure was made to the exchanges on September 03, 2026. The company had previously made disclosures regarding opting for the scheme on March 27, 2025, and May 28, 2026.
Parties Involved
The settlement orders were received from the Principal Commissioner of Income Tax (PCIT), Designated Authority, Mumbai. Some forms were received via email communication from the Department, while others were reflected on the Income Tax e-filing portal.
Financial Impact
The amount payable pursuant to the settlement has been adjusted against the company's accumulated brought forward losses. Accordingly, the settlement is not expected to result in any incremental cashflows for the company.
Significance
The settlement represents a significant step towards closure of the company's historical income tax litigations associated with the specified assessment years.