NFAC grants partial relief in FY2021-22 income tax appeal
IXIGO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.6 pts less than Nifty Microcap 250 and 1.1 pts less than its Tour Travel Related Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The National Faceless Appeal Centre partly allowed Le Travenues Technology's appeal against a March 2024 income tax assessment for FY2021-22. It granted relief of ₹29.53 crore from ₹46.25 crore of additions, sustained ₹16.72 crore, and said the ₹19.29 crore tax demand should fall. The final liability will be recalculated after tax credits. The company plans to appeal the remaining amount to the income tax tribunal.
Positive for shareholders because the tax demand should fall, though the final liability, penalties and further appeal remain uncertain.