YES BANK has received a consolidated order giving effect (OGE) from the Jurisdictional Assessing Officer (JAO), resulting in an income-tax refund of approximately ₹345 Crores. This refund includes interest and will positively impact the bank’s Profit and Loss statement, exceeding the prescribed materiality threshold.
Income Tax Refund Update
YES BANK received an assessment order in December 2018 for the assessment year 2016-17, which included certain additions and disallowances. This assessment year was later subject to reassessment, with an order passed in March 2022.
Rectification and Recomputation
On April 15, 2025, the Jurisdictional Assessing Officer (JAO) rectified a mistake in the reassessment order and recomputed the tax demand. The stock exchange disclosure regarding this was made on April 16, 2025.
Appellate Resolution
The bank appealed against the assessment order, reassessment order, and rectification order. Following the orders passed by the first level appellate authority, YES BANK received a consolidated OGE on December 31, 2025, resulting in an income-tax refund.
Refund Amount and Impact
The computation statement in the OGE determined an income-tax refund of approximately ₹345 Crores (including interest). The amount recognized in the Profit and Loss statement of the bank is in excess of the materiality threshold.
Details of Claim
The income-tax refund amounts to approximately ₹345 Crores, which includes interest.
Source: BSE
