PB Fintech Subsidiary Paisabazaar Faces ₹145.91 Crore Tax Disallowance Appeal
PB Fintech's subsidiary, Paisabazaar, received a CIT(A) order confirming tax disallowances of ₹85.60 Crore (FY23) and ₹60.31 Crore (FY22). Paisabazaar plans to appeal. The CIT(A) also directed verification of brought forward loss set-off claims.
While the disallowance is substantial, it pertains to past fiscal years and the company plans to appeal. The impact is currently contained, but the outcome of the appeal could increase the financial impact.
The company's subsidiary has received a significant tax disallowance, although an appeal is planned and a potential positive direction on loss set-off was noted.
PB Fintech Limited announced that its wholly-owned subsidiary, Paisabazaar Marketing and Consulting Private Limited, has received an order from the Commissioner of Income Tax, Appeal (CIT(A)), Delhi-23, dated April 30, 2026. This order confirms the disallowance made by the Assessing Officer for Fiscal Year 2022-23 amounting to ₹85.60 Crores and for Fiscal Year 2021-22 amounting to ₹60.31 Crores. These disallowances were originally made via orders under section 143(3) dated March 31, 2025, and under section 147 dated April 17, 2025, respectively.
Paisabazaar intends to appeal these orders from the CIT(A) in due course. However, the CIT(A) also noted that Paisabazaar's claim regarding the set-off of brought forward losses, which was not initially considered in the assessment orders, appears prima facie correct. The CIT(A) has directed the Assessing Officer to verify this claim and allow the set-off as per law when recomputing the total income.
At present, there is no immediate financial impact on PB Fintech Limited as the orders are appealable. The company will host this disclosure on its website, www.pbfintech.in.
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