RNFI wins tax appeal, Rs 1.48 crore addition deleted

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AI summary

RNFI Services won a favorable order from the Commissioner of Income Tax (Appeals) dated October 9, 2026 for Assessment Year 2024-25. The full addition of about Rs 1.48 crore under Section 69 of the Income Tax Act, linked to alleged unexplained investment in a Delhi property, has been deleted, giving substantial relief. Penalty proceedings under Section 271AAC(1) remain separate.

Likely market impact

Positive for shareholders as about Rs 1.48 crore disputed tax addition has been deleted. Penalty proceedings under Section 271AAC(1) are still pending separately.