Thomas Cook (India) Limited has successfully resolved a significant Income Tax dispute, eliminating a pending demand of Rs 265.40 million for Assessment Year 2016-17. The resolution was confirmed through an official order received on March 9, 2026, marking the end of a long-standing tax matter.

Tax Dispute Resolution Details

The company received an order from the Office of The Assistant Commissioner of Income Tax Circle 1(3)(1), Mumbai, regarding the resolution of the pending dispute. The order was issued under Section 143(3) read with Section 254 of the Income-tax Act, 1961.

Financial Impact Assessment

The company has confirmed that the resolution of this tax demand will have no adverse financial impact on its operations. According to the regulatory filing, since the demand has been resolved, there is no impact on the financial operations or other activities of the company. This outcome suggests a favorable resolution that eliminates the contingent liability without requiring any significant payment.

Regulatory Compliance and Documentation

The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive details through two detailed annexures covering the regulatory action and litigation update as required under the SEBI Master Circular dated January 30, 2026.

Corporate Governance

The announcement was signed by Amit J. Parekh, Company Secretary & Compliance Officer, and has been uploaded on the company's website for stakeholder access. This transparent communication demonstrates the company's commitment to keeping investors informed about material developments affecting its legal and financial position.

The successful resolution of this substantial tax dispute removes uncertainty from Thomas Cook India's financial outlook and eliminates a significant contingent liability that had been pending since Assessment Year 2016-17.

Thomas Cook (India) Limited has successfully resolved a significant income tax dispute, bringing closure to a pending demand of Rs 1,341.10 million for Assessment Year 2017-18. The resolution marks a positive development for the travel and tourism services company, eliminating a substantial contingent liability from its books.

Tax Dispute Resolution Details

The company received an official order from the Office of The Assistant Commissioner of Income Tax Circle 1(3)(1), Mumbai, confirming the resolution of the long-standing tax dispute. The order was issued under Section 143(3) read with Section 254 of the Income-tax Act, 1961.

Regulatory Compliance and Disclosure

Thomas Cook India has fulfilled its regulatory obligations by promptly informing stock exchanges about this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that no violations or contraventions were committed or alleged to be committed in this matter.

The resolution process was completed without any financial penalty or adverse impact on the company's operations. The settlement eliminates the contingent liability that had been pending since Assessment Year 2017-18.

Impact Assessment

The successful resolution of this tax dispute allows Thomas Cook India to continue its business operations without any regulatory overhang. The company emphasized that the resolution has no adverse financial impact, providing clarity to stakeholders regarding this long-pending matter.

Corporate Governance

The timely disclosure demonstrates Thomas Cook India's commitment to maintaining transparency with stakeholders and adhering to regulatory requirements. The information has been made available through proper regulatory channels, reinforcing the company's commitment to stakeholder communication and corporate governance protocols.