Fusion Finance Limited has informed the Exchange about Disclosure under Regulation 30(2) read with Clause 20 of Para A of Part A of Schedule III of theSEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 about notice received under Income Tax Act, 1961.
FUSION · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.4 pts less than its Finance peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Fusion Finance has won its appeal against an income tax order related to Assessment Years 2020-21 and 2021-22. The original order from June 2024 had raised a total demand of about Rs. 27.80 crore (Rs. 16.62 crore for AY 2020-21 and Rs. 11.18 crore for AY 2021-22) on account of alleged lower tax deduction on interest payments to foreign NCD holders. The Commissioner of Income Tax (Appeals), Delhi, has now allowed the company's appeal and fully deleted both demands. No penalty has been imposed, and the company's position that it had correctly withheld tax at 5% under section 194LD has been upheld.
This is a positive development for shareholders — a combined tax demand of roughly Rs. 27.8 crore (including interest) stands fully deleted, removing a significant contingent liability overhang on the company.