TBO Tek Wins INR 30.2 Cr Service Tax Case, Shares Gain

TBO Tek, a B2B travel portal, won a significant service tax case, with the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) ruling in its favor. The tribunal set aside a INR 30.2 crore service tax demand from the central government, which had been a long-standing dispute. Following the verdict, TBO Tek’s shares saw a modest gain, closing at INR 1,537.75 on the BSE, up 0.93%. The company reported a net profit of INR 60.1 crore for Q2 FY25, marking a 7% year-on-year increase. TBO Tek has been expanding its global footprint, with new subsidiaries in Australia and the Canary Islands. The favorable ruling not only boosts the company’s financial standing but also reinforces its position in the travel tech industry. This case underscores the importance of legal clarity in tax disputes and the potential positive impact of favorable rulings on a company’s market performance.