Le Travenues Technology gets partial relief in ₹46 crore income tax case

Le Travenues Technology (NSE: IXIGO) has received a partly favourable order from the National Faceless Appeal Centre on its income tax appeal for Assessment Year 2022-23, it said in a filing on 04 Nov 2026. The order, dated 03 Nov 2026, grants relief of ₹29.53 crore against additions and disallowances of ₹46.25 crore and sustains ₹16.72 crore.

Key highlights

• Relief granted by NFAC: ₹29.53 crore
• Additions/disallowances sustained: ₹16.72 crore
• Tax demand in Assessment Order: ₹19.29 crore
• Order dated 03 Nov 2026, received at 01:54 PM IST

The NFAC order in numbers

What the order changes and what remains

The Assessment Order dated 26 Mar 2024, passed under Section 144 read with Section 144B, made additions and disallowances of ₹46.25 crore and raised a tax demand of ₹19.29 crore. The company filed its appeal before the NFAC on 19 Apr 2024.

The NFAC has granted relief of ₹29.53 crore on that total and sustained ₹16.72 crore. The company says the tax demand is expected to reduce substantially. 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 sustained part goes to the Tribunal

The company says it believes it has a strong case on facts and merits and will file an appeal before the Income Tax Appellate Tribunal against the sustained additions and disallowances within the prescribed time.

The matter was first disclosed in the company's prospectus dated 13 Jun 2024, under the heading Outstanding Litigation and Material Developments. Against its Q2 FY27 consolidated total income of ₹343.04 crore, the ₹19.29 crore original demand is about 5.6% of that quarter's income.

Scale of the matter

The company's market value was ₹6,340 crore at the 03 Nov 2026 close, so the ₹16.72 crore sustained amount is about 0.3% of that value. The filing does not give the final tax payable after the revision.

What the NFAC order means for Le Travenues Technology's shareholders

The order reduces the disputed additions from ₹46.25 crore to the ₹16.72 crore that remains sustained, and the company plans a further appeal on that part. The filing does not state the revised tax liability, whether any penalty applies, whether taxes already paid cover it, the date by which the Tribunal appeal must be filed, or the financial impact on the company's results.

The next step is the Assessing Officer giving effect to the NFAC order, and the company's Tribunal appeal within the prescribed time.