Mahindra Holidays & Resorts India Limited (MHRIL) has received an order dated 26th December 2025 from the Office of the Assessment Unit of the Income Tax Department. The order, received by the company on 26th December 2025 at 3:16 p.m. (IST), pertains to Assessment Year 2022-23. Under section 143(3) read with sections 144C(13) and 144B of the Income Tax Act, 1961, the Income Tax Department has raised a demand of ₹72.14 Crore. This demand is on account of additions made to the income due to Income Computation and Disclosure Standards (ICDS) adjustments and transfer pricing adjustments. Despite the demand, the company states that there is no material impact on its financial, operations, or other activities due to this order. MHRIL is taking appropriate steps to pursue legal remedies before the appropriate authority.