Legal2 Jun 2026, 09:52 pm
Fusion Finance Wins ITAT Appeal, ₹27.8 Cr Tax Demand Dismissed
AI Summary
Fusion Finance Ltd has received a favorable order from the Income Tax Appellate Tribunal (ITAT), New Delhi, dismissing appeals filed by the Income Tax Officer (ITO). The appeals pertained to alleged non-deduction/lower deduction of tax on interest payments to foreign NCD holders. The ITAT's order dismisses a total demand of ₹16,62,03,454 for AY 2020-21 and ₹11,18,43,066 for AY 2021-22, totaling ₹27.80 crore. The company stated there is no impact on its financials or operations. The company became aware of the order through a routine review of the ITAT website.
Key Highlights
- Fusion Finance wins ITAT appeal against Income Tax Officer.
- Total tax demand of ₹27.80 crore dismissed by the tribunal.
- No financial or operational impact on the company.
- Order relates to AY 2020-21 and AY 2021-22 tax demands.
- Company learned of the order via ITAT website review.