Private sector lender informed stock exchanges on Monday that it has received a consolidated order giving effect (OGE), from the Jurisdiction Assessing Officer, determining an income tax refund of Rs 879 crore in its favour, following a favourable hearing from the first level appellate authority on long-pending tax disputes for assessment year 2018-19.
The bank said the refund includes interest income computed under Section 244A of the Income-tax Act, 1961, along with tax benefit on a certain expense claimed in its income tax return. The combined value of these two components exceeds the Rs 120 crore materiality threshold prescribed under SEBI’s Listing Obligations and Disclosure Requirements Regulations.
The development traces back to an assessment order the bank received in February 2020 for AY 2018-19, in which certain additions and disallowances were made to its income. As a result, the private sector lender, subsequently faced reassessment proceedings for the same assessment year, with an order passed under Sections 147 and 144B of the Act in March 2024.
Yes Bank contested both the original assessment and reassessment orders for AY 2018-19 before the first level appellate authority, which ruled separately on the two matters, the assessment dispute on October 27, 2025, and the reassessment dispute on December 30, 2025. Following these rulings, the tax officer issued a consolidated order giving effect (OGE), determining an income tax refund of Rs 879 crore in the bank’s favour.
