Tax & Penalty26 May 2026, 03:54 pm
Karur Vysya Bank: Income Tax Appeal Partly Allowed
AI Summary
Karur Vysya Bank Ltd. announced that the Commissioner of Income Tax (Appeals) partly allowed the bank's appeal against a demand raised by the Income Tax Department for AY 2022-23 (FY 2021-22). The original demand was ₹40.34 crore. The bank is challenging the order further, believing it has strong grounds for appeal and expects the entire demand to be set aside. The bank anticipates no impact on its financials, operations, or other activities.
Key Highlights
- Karur Vysya Bank received an order partly allowing its appeal against an income tax demand.
- The appeal relates to a demand of ₹40.34 crore for AY 2022-23.
- The bank is challenging the order in the appropriate forum.
- KVB believes it has adequate grounds and expects the entire demand to be set aside.
- The bank anticipates no impact on its financial or operational activities.
Price Impact
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