Le Travenues Technology (ixigo) has received an Income Tax Assessment Order for Assessment Year 2024-25, with the tax department demanding ₹45,49,685 on disallowed expenses. The travel technology company disclosed this development through a regulatory filing under SEBI Listing Regulations on March 25, 2026.

Assessment Order Details

The Income Tax Department issued the Assessment Order dated March 24, 2026, under Section 143(3) read with Section 144B of the Income Tax Act, 1961. The order pertains to Assessment Year 2024-25, covering Financial Year 2023-24.

Financial Implications

The assessment proceedings resulted in specific financial demands against the company. During the usual assessment process, the Assessing Officer issued notices under Section 133(6) of the Income Tax Act to third parties for independent verification of claimed expenses.

The complications arose when one party failed to respond to the Assessing Officer's notice, while another provided an incomplete response. Consequently, the Assessing Officer disallowed expenses worth ₹1,01,50,336 and demanded tax of ₹45,49,685 on this amount.

Calculation Discrepancies

The company has identified what it considers significant errors in the Assessment Order. The Assessing Officer included ₹7,52,05,398 pertaining to tax on Buy Back of Shares under Section 115QA in the Demand Notice. However, this amount has already been paid and is properly captured in the computation sheet shared along with the Demand Notice.

Despite having complete facts on record, this amount appears to have been erroneously included in the Demand Notice even though it was already paid.

Company's Response Strategy

Le Travenues Technology believes it has a strong case on merits and plans to contest the Assessment Order. The company expects nil financial implications except for legal and other expenses to be incurred in contesting the matter.

Planned Actions:

• File requisite appeal with appropriate authorities within prescribed timeframe
• Contest the Assessment Order based on identified calculation errors
• Challenge the inclusion of already-paid Buy Back tax amount

Penalty Proceedings

The Demand Notice references penalty proceedings under Section 270A and Section 271AAC(1) of the Income Tax Act 1961. The company maintains its position that it has a strong case on merits and will file the requisite appeal within the prescribed time to contest these proceedings as well.

The disclosure was made in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring transparency with stakeholders regarding this regulatory development.

Le Travenues Technology (ixigo) has successfully completed its scheduled analyst and investor meeting with Raas Partners under SEBI Regulation 30 of the Listing Obligations and Disclosure Requirements Regulations, 2015. The travel technology company informed stock exchanges about the outcome of the engagement with institutional investors through an official communication dated March 24, 2026.

Meeting Outcome

The company completed the previously scheduled one-on-one physical meeting with Raas Partners as planned. The meeting outcome details are as follows:

Compliance Confirmation

Le Travenues Technology has confirmed that during the meeting with the analyst and investor, no Unpublished Price Sensitive Information was discussed. This confirmation ensures compliance with SEBI regulations regarding information sharing during investor interactions. The company maintained transparency standards while engaging with institutional stakeholders.

Presentation Materials Used

The company utilized existing investor presentation materials during the meeting, specifically the investor presentation that was previously submitted to stock exchanges via letter number LTTL/L&S/2025-26/01/13 dated January 22, 2026. This presentation covered the company's financial results for both standalone and consolidated operations for the quarter and nine months ended December 31, 2025.

Regulatory Disclosure

The outcome announcement fulfills the company's ongoing disclosure obligations under SEBI regulations. Le Travenues Technology has made this information available on its investor relations website at investors.ixigo.com for transparency and stakeholder access. The communication was signed by Suresh Kumar Bhutani, who serves as Group General Counsel, Company Secretary & Compliance Officer for the organization.

Company Information

Le Travenues Technology Limited operates under the ixigo brand and maintains its registered office at Second Floor, Veritas Building, Sector-53, Golf Course Road, Gurgaon-122 002, Haryana. The company continues its regular engagement with analysts and investors as part of its investor relations activities.