The tax authority agreed with disallowing some of Paisabazaar’s expenses for FY 2021–22 and FY 2022–23. However, it asked the officer to check and allow the company to adjust its past losses if the details are correct.
Khushi Jain | May 6, 2026 |
Paisabazaar faces 145.91 Cr Income Tax disallowances from I-T Appellant body
Paisabazaar Marketing & Consulting Pvt. Ltd., a subsidiary of PB Fintech Ltd., received an order from the Commissioner of Income Tax (Appeals), Delhi.
The order dated April 30, 2026 confirmed disallowances made by the Assessing Officer under Section 37 of the Income Tax Act.
Disallowances were for Rs 85.60 crores (FY 2022–23) and Rs 60.31 crores (FY 2021–22). The order said that Paisabazaar’s claim about using its past losses to reduce current taxable income looked correct. So, the tax officer should check the details carefully, and if everything matches the law, then allow the company to use those losses when recalculating its income.
Issue of the case
Whether the expenses claimed by Paisabazaar could be allowed as deductions under Section 37 of the Income Tax Act.
Whether the set-off of carried-forward losses should be properly considered in the assessment?
Decision of the CIT
The Commissioner of Income Tax (Appeals) upheld the disallowances made by the Assessing Officer for both years.
However, the CIT(A) directed the Assessing Officer to verify and allow the set-off of carried-forward losses as per law.
Paisabazaar plans to appeal further, so the matter is not yet final.
At present, there is no financial impact on PB Fintech Ltd. since the orders are appealable.
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