Yes Bank Faces ₹ 144.85 Crores Tax Demand Following Tribunal Ruling
Published On March 19, 2025, at 12:03 AM IST
Overview of Tax Demand
Yes Bank has recently received a partial order from the Jurisdictional Assessing Officer outlining a tax demand totalling ₹ 144.85 Crores. This demand, which encompasses an interest component of ₹ 44.82 Crores, is a direct outcome of a ruling issued by the Income-tax Appellate Tribunal concerning the Assessment Year 2015-16.
Next Steps in the Legal Process
In response to this order, Yes Bank has expressed its intention to file an appeal in accordance with the relevant legal frameworks. The bank is confident in its position, asserting that it possesses sufficient factual and legal grounds to challenge the tax demand effectively.
Impact on the Bank
Despite the ongoing legal challenges, Yes Bank has emphasized that it does not anticipate any significant adverse effects on its financial standing or operational capabilities arising from this order.
Current Appeal Status
The bank is actively pursuing an appeal against the tribunal’s decision at the Bombay High Court. The outcome of this appeal could influence future operations and legal strategies for the institution.
