Yes Bank Limited (NSE: YESBANK, BSE: 532648) has disclosed that it has received an income tax demand of ₹144.85 crore (including ₹44.82 crore in interest) for Assessment Year (AY) 2015-16 from the Jurisdictional Assessing Officer (JAO), pursuant to an Order Giving Effect (OGE) issued on March 17, 2025.
The demand follows an earlier order by the Hon’ble Income-tax Appellate Tribunal, which remanded certain issues to the JAO and the Commissioner of Income-tax (Appeals) [CIT(A)]. The OGE is subject to revision based on the CIT(A)’s pending decision regarding these remanded issues.
Yes Bank has stated that it has adequate factual and legal grounds to substantiate its position and does not anticipate any material adverse impact on its financial or operational activities due to this order. The bank intends to pursue an appeal against the OGE under applicable laws and is also in appeal before the Hon’ble Bombay High Court against the Tribunal’s earlier order.
Shivanand R. Shettigar, Company Secretary of Yes Bank Limited, confirmed these developments in a regulatory filing with stock exchanges.
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Published on: March 18, 2025 at 7.00PM GMT.
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