Thomas Cook (India) Limited has informed the Exchange about Update on litigation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
THOMASCOOK · price
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Thomas Cook (India) Limited informed the exchanges about a favorable development in a pending income tax matter. The Office of the Assistant Commissioner of Income Tax Circle 1(3)(1), Mumbai passed an order on March 9, 2026 resolving a tax demand of Rs. 265.40 Mn (around Rs. 26.5 crores) pertaining to Assessment Year 2016-17. The order was issued under Section 143(3) read with Section 254 of the Income-tax Act, 1961. The company has stated there is no violation or contravention involved, and since the demand has been resolved, there is no impact on its financial operations or other activities. This brings closure to a long-pending tax dispute for the company.
This is a positive development for shareholders as a potential tax liability of Rs. 265.40 Mn has been resolved without any financial hit to the company, removing a lingering uncertainty from the books.