IIFL Finance and its subsidiary, IIFL Home Finance, face an income-tax demand of Rs 963 crore from the Income Tax department. An order is reported to have been raised by the Assistant Commissioner of Income Tax, Central Circle–4(4) in Mumbai.
The demand is linked to search and seizure actions carried out under Section 158BC(1)(c) of the Income Tax Act, 1961. Under this framework, assessments are typically based on material found during the searches, and the department issues orders raising tax liabilities accordingly.
Across the available reports, the core details are consistent: the amount demanded, the issuing authority, the involvement of IIFL Finance’s subsidiary, and the legal provision tied to the department’s search and seizure process. No additional differing claims are provided in the supplied excerpts regarding the merits of the demand, the company’s response, or whether the order is contested or under appeal.
