Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
THELEELA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Leela Palaces Hotels & Resorts informed the stock exchanges that its material subsidiary, Schloss Chanakya Private Limited (SCPL), received a favourable order from the Assistant Commissioner of Income Tax (Transfer Pricing), Delhi for Assessment Year 2023-24. The order pertains to determining the Arm's Length Price for certain international transactions undertaken by SCPL during FY 2022-23. The Transfer Pricing Officer concluded that no adverse inference is required against SCPL's international transactions. Consequently, no transfer pricing adjustment was proposed and no penalty or compensation was levied. The company confirmed that the order has no adverse financial impact on Leela Palaces.
Positive for shareholders — the favourable ruling removes any potential tax liability or adjustment on international transactions of the material subsidiary, with no financial downside to the company.