Yes Bank Receives Rs 879 Crores Income Tax Refund After Appellate Determination

Yes Bank Receives Rs 879 Crores Income Tax Refund After Appellate Determination​

Yes Bank Limited has received a consolidated order giving effect (OGE) from the Jurisdictional Assessing Officer (JAO), resulting in a refund of Rs 879 Crores. This significant amount relates to prior disputes concerning income tax assessments and reassessments for the Assessment Year (AY) 2018-19, as determined after appeals were adjudicated by the first level appellate authority.

The dispute arose from an assessment order passed under Section 143(3) of the Income Tax Act, 1961, in February 2020. Subsequently, a reassessment order was issued in March 2024. Following the reassessment, an additional demand for tax liability and interest amounting to Rs 112.81 Crores was raised against the Bank.

Aggrieved by the additions and disallowances made in both orders, Yes Bank appealed these decisions before the first level appellate authority. The appellate body issued its orders concerning the assessment order on October 27, 2025, and the reassessment order on December 30, 2025.

Following the outcomes of these appeals, the Bank received the consolidated OGE from the JAO, which determined the refund. The refund amount represents a substantial gain for the institution.

The refunded sum of Rs 879 Crores includes interest income determined under Section 244A of the Act and covers tax benefits derived from a specific expense claimed in the income tax return. This cumulative quantum—comprising both the interest income and the tax benefit—exceeds the materiality threshold of approximately Rs 120 Crores as prescribed by relevant regulations.

The key financial elements of the dispute resolution are summarized below:

YESBANK Stock Price Movement​

On Monday, Yes Bank Limited shares edged higher to close at ₹25.09, gaining 0.84% in the session. The equity saw robust activity, trading a volume of 183.94 million shares during the market day.