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IIFL Finance Stock Slides After Income Tax Communication
IIFL Finance shares dropped sharply after an income tax notice disclosure, even as the company maintained the communication was procedural with no financial impact.
IIFL Finance shares came under heavy selling pressure after the company informed exchanges about receiving an income tax notice. Management clarified the notice was procedural and linked to routine verification, without any fresh tax demand or penalty. However, markets reacted cautiously as regulatory headlines often raise compliance concerns. The sharp intraday decline reflected nervous sentiment amid volatile trading conditions during the ongoing earnings season.