Central Bank of India Receives Demand Notice of Rs. 296.08 Crores from Income Tax Department

Central Bank of India has received a demand notice from the Income Tax Department under Section 143(3) read with Section 144B of the Income Tax Act, 1961. The notice, dated 28.03.2026, advises the Bank to pay an amount of Rs. 296.08 Crores as tax liability for the Assessment Year 2024-25. The Bank is challenging the order in the appropriate forum, stating that it has adequate factual and legal grounds to dispute the disallowances and additions made in the order. The Bank believes that the entire demand will subside, and therefore, expects no impact on its financial, operational, or other activities.