The New India Assurance Company Ltd. (NIACL) has received a favorable order from the Income Tax Department's National Faceless Appeal Centre (NFAC), Delhi.

This order deletes a previously imposed penalty of ₹2.03 Cr for Assessment Year 2019-20. This is a positive financial development for NIACL, as it directly avoids a payout of ₹2.03 Cr.