RBZ Jewellers wins significant income tax appeal, reducing addition by 99.78%

RBZ Jewellers Limited announced on December 6, 2025, that it has received an order under Section 250 of the Income Tax Act from the National Faceless Appeal Centre (NFAC). This order pertains to the financial year 2022-23 (Assessment Year 2023-24) and comes after the company filed an appeal with CIT (Appeal) on March 31, 2025, against an earlier assessment order.

The appeal has been partly allowed, resulting in a substantial reduction of the original addition of INR 2,617.26 lakh. The addition now stands at INR 5.65 lakh, representing a 99.78% reduction and is largely in favor of the company. RBZ Jewellers stated that any consequential tax demand on this reduced addition would be immaterial.

The company further indicated that no violation or contravention was identified by the authority, and no penalty or restriction was imposed. RBZ Jewellers does not foresee any impact on its financials or operations due to this order and may consider a further appeal regarding the remaining INR 5.65 lakh addition.