Yes Bank to Receive ₹363 Cr Refund Post Tax Litigation Outcome

Yes Bank Ltd has received a consolidated order giving effect (OGE) from the Jurisdictional Assessing Officer (JAO) determining a refund of approximately ₹363 Crores. This refund is a result of tax litigation concerning assessment year 2017-18. The refund includes interest income determined under Section 244A of the Income-tax Act and a tax benefit from an expense claimed in the income-tax return. The cumulative quantum of these benefits exceeds the materiality threshold of ₹120 Crores. The bank has been involved in assessment, reassessment, and rectification proceedings, with orders from appellate authorities leading to this significant refund.