Arman Financial Services has received a favourable ruling from the Commissioner of Income Tax (Appeals) [CIT(A)], Income Tax Department, in connection with its income tax appeal for Assessment Year 2012-13. The order, dated May 05, 2026, was passed under Section 250 of the Income-tax Act, 1961, and pertains to the appeal filed against an assessment order passed under Section 143(3). The company disclosed this development on May 06, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Appellate Order

The appellate authority adjudicated various additions and disallowances made by the Assessing Officer, with the outcome being largely in favour of the company. The following table summarises the key particulars of the order:

Significant Relief Granted on Key Disputed Matter

A central issue in the appeal concerned the treatment of Rs. 15,00,00,000 received by the company in the form of contribution towards Compulsorily Convertible Debentures (CCDs) and equity shares. The Assessing Officer had treated this amount as unexplained cash credits. The appellate authority, however, found this treatment to be untenable. As stated in the order:

"The AO, in treating the amount received of Rs. 15,00,00,000/- by the appellant in the form of contribution towards CCDs/Equity shares as unexplained cash credits, is found to be untenable. Accordingly, the addition made by the AO of Rs. 15,00,00,000/- as unexplained cash credits in the assessment order passed under Section 143(3) of the Act is hereby deleted."

The company confirmed that there is no material adverse financial impact on its operations or finances arising from this order.

Company's Compliance and Representation

Arman Financial Services stated that it had duly represented its case along with necessary evidence and submissions during the appellate proceedings. The company further affirmed that it continues to remain compliant with applicable tax laws and regulations. The disclosure was made in accordance with the company's obligations under the SEBI listing framework, ensuring timely and transparent communication to the stock exchanges.

Arman Financial Services has filed a certificate under Regulation 57 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 with BSE Limited, confirming the timely disbursement of monthly interest to its debenture holders. The filing was made pursuant to SEBI Master Circular bearing reference no. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated October 15, 2025, and subsequent amendments thereof. The certificate was submitted by Company Secretary Uttam Patel on behalf of the company.

Debenture Interest Payment Details

The company confirmed that the interest payment was made on its due date without any delay. The payment pertains to a monthly interest cycle, with no changes in payment frequency reported. The following table summarises the key details of the interest payment as disclosed in Annexure-A:

Compliance and Regulatory Context

The certificate has been submitted to BSE Limited in accordance with Chapter XIV of the SEBI Master Circular, reinforcing the company's adherence to its disclosure and payment obligations under applicable securities regulations. Copies of the communication were also circulated to Acuité Ratings & Research Limited and IDBI Trusteeship Services Limited. No change in the frequency of payment was reported, and no reasons for non-payment or delay were applicable, indicating the payment was executed as scheduled.