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HomeMarket NewsStocks NewsNew India Assurance faces ₹189 crore Income Tax assessment order for AY23, to appeal
Shares of New India Assurance Company Ltd ended at ₹125.55, up by ₹0.90, or 0.72%, on the BSE.
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The New India Assurance Company Ltd on Tuesday (March 24) said it has received an income tax assessment order for the assessment year 2023–24 involving about ₹189.37 crore and will challenge the order before the Faceless Appeal Centre.
The order was issued by the Faceless Assessment Centre under Section 143(3) of the Income Tax Act, 1961. The company received the communication on March 23, 2026, at 18:42 hours.
According to the disclosure, the assessment relates to disallowances of certain expenses identified during the proceedings. The amount involved in the order stands at about ₹189.37 crore, which the company said will be disclosed as a contingent liability in its financial statements.
The insurer said it will pursue an appeal before the Faceless Appeal Centre (NFAC) or explore other legal options against the order.
Shares of New India Assurance Company Ltd ended at ₹125.55, up by ₹0.90, or 0.72%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
