Expleo Solutions Limited has informed the Exchange about Action(s) taken or orders passed
EXPLEOSOL · price
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The Income Tax Appellate Tribunal (ITAT), D Bench, Chennai, has granted a stay on the recovery of a disputed tax demand of Rs. 20,30,02,355 (approximately Rs. 20.30 crore) for Assessment Year 2021-22. The total tax demand raised by the Assessing Officer was Rs. 25,37,62,355 (Rs. 25.38 crore), arising from disallowances on service costs and reimbursements paid to subsidiaries and group companies, 26AS reconciliation differences, and interest on trade receivables. The company has already paid 20% of the demand (Rs. 5,07,60,000) as required. The stay is valid for 180 days or until the appeal is disposed of, whichever is earlier. The stay order was passed on 25th July 2025 and received by the company on 8th August 2025.
This is a positive development for shareholders as the company has secured interim relief from recovering the full disputed tax amount while its appeal is heard. The company is protected from immediate cash outflow of Rs. 20.30 crore for 180 days, giving it time to pursue the appeal. However, the underlying tax dispute remains unresolved and could impact financials if the appeal is decided unfavourably.