PB Fintech Limited’s wholly owned subsidiary, Paisabazaar Marketing and Consulting Private Limited, has received an order from the Commissioner of Income Tax, Appeal, Delhi-23 (CIT(A)), confirming a tax disallowance amounting to ₹145.91 crore. The order, issued under Section 250 of the Income Tax Act, 1961, was dated April 30, 2026, and pertains to financial years 2022-23 and 2021-22.
The disallowance, confirmed by CIT(A), was originally made by the Assessing Officer under Section 37 of the Income Tax Act. Specifically, ₹85.60 crore was disallowed for FY 2022-23, as per the order dated March 31, 2025, and ₹60.31 crore for FY 2021-22, as per the order dated April 17, 2025.
Despite the confirmation of the disallowance, Paisabazaar plans to appeal the CIT(A)’s order. The company has indicated that the orders are appealable, and it intends to file an appeal in due course. As a result, there is currently no financial impact on the company.
The CIT(A) also addressed a claim made by Paisabazaar regarding the set-off of brought forward losses, which was not included in the computation sheet of the assessment or reassessment order. The CIT(A) found the claim to be prima facie correct and directed the Assessing Officer to verify and allow the set-off as per law during the recomputation of total income.
This development has been disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and will be available on PB Fintech‘s website.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).