Le Travenues Technology gets partial relief in tax order

Le Travenues Technology Ltd has received a partially favourable order from the National Faceless Appeal Centre (NFAC) regarding an assessment for the Assessment Year 2022-23. The NFAC granted relief of ₹29.53 crore against total additions/disallowances of ₹46.25 crore made in the original assessment order. Additions/disallowances of ₹16.72 crore were sustained. Consequently, the tax demand of ₹19.29 crore is expected to reduce substantially. The company plans to appeal the sustained additions/disallowances before the Income Tax Appellate Tribunal (ITAT).