Leela Palaces Hotels & Resorts Limited (Company) announced that its material subsidiary, Schloss Chanakya Private Limited (SCPL), has received a favourable order from the Office of the Assistant Commissioner of Income Tax, Transfer Pricing, Delhi.

The order, issued under Section 92CA(3) of the Income-tax Act, 1961, pertains to the determination of the Arm's Length Price for certain international transactions SCPL entered into during the Financial Year 2022-23, for Assessment Year 2023-24.

The Transfer Pricing Officer has concluded that no adverse inference is required concerning SCPL's international transactions, and consequently, no transfer pricing adjustment has been proposed. This settlement has no adverse financial impact on the Company.