Key Quantitative Figures

  • Original Assessment Order dated March 26, 2024: Total additions/disallowances of ₹46.25 crore
  • Original tax demand raised: ₹19.29 crore
  • NFAC Order dated November 03, 2026: Relief granted of ₹29.53 crore
  • Sustained additions/disallowances: ₹16.72 crore
  • Expected reduction in tax demand: Substantial (exact amount to be determined)

Dates of Action

  • Assessment Order received: March 26, 2024 (for Assessment Year 2022-23, Financial Year 2021-22)
  • Appeal filed with NFAC: April 19, 2024
  • NFAC Order received: November 03, 2026 at 01:54 PM IST
  • Disclosure filed with exchanges: November 04, 2026

Parties Involved

  • Listed Entity: Le Travenues Technology Limited (Ixigo)
  • Regulatory Authority: National Faceless Appeal Centre, Income Tax Department, Ministry of Finance, Government of India
  • Next appellate forum: Income Tax Appellate Tribunal (ITAT)

Purpose/Rationale

Disclosure made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding material developments affecting the company.

Financial Impact

The revised tax liability will be determined by the Assessing Officer while giving effect to the NFAC Order, after allowing credit for taxes already paid or adjusted. The original tax demand of ₹19.29 crore is expected to reduce substantially due to the ₹29.53 crore relief granted.

Capital Structure Impact

No impact on capital structure disclosed.

Cash Flow Implications

Potential cash outflow for the sustained tax liability of ₹16.72 crore (subject to final determination by Assessing Officer), though the company intends to appeal this amount.

Forward-looking Guidance

The Company believes it has a strong case on facts and merits and will be filing an appeal before the Hon'ble Income Tax Appellate Tribunal (ITAT) against the sustained additions/disallowances of ₹16.72 crore within the prescribed time.

Material Changes Compared to Previous Disclosures

The disclosure references previous disclosure in the Company's Prospectus dated June 13, 2024, under the heading "Outstanding Litigation and Material Developments" regarding the original Assessment Order.

Additional Details

The requisite details pursuant to Regulation 30 of the SEBI Listing Regulations are provided in Annexure A, which includes comprehensive particulars about the communication, authority, financial implications, and company actions.