Tax & Penalty1 May 2026, 05:41 pm
PB Fintech's Paisabazaar faces ₹145.91 Cr tax disallowance order
AI Summary
PB Fintech Ltd's wholly-owned subsidiary, Paisabazaar Marketing and Consulting Private Limited, has received an order from the Commissioner of Income Tax, Appeal (CIT(A)), Delhi-23. The order, dated April 30, 2026, confirms tax disallowances amounting to ₹85.60 Crores for FY 2022-23 and ₹60.31 Crores for FY 2021-22, made under Section 37 of the Income Tax Act, 1961. Paisabazaar intends to file an appeal against these orders in due course. The CIT(A) also directed the Assessing Officer to verify and allow the set-off of brought forward losses. The company states there is no immediate financial impact as the orders are appealable.
Key Highlights
- Paisabazaar received a tax disallowance order totaling ₹145.91 Cr.
- Disallowance includes ₹85.60 Cr for FY23 and ₹60.31 Cr for FY22.
- PB Fintech's subsidiary plans to appeal against the tax orders.
- CIT(A) directed verification of brought forward loss set-off.
- No immediate financial impact due to the appeal process.