Income-tax order giving effect determines refund of ~Rs. 363 Crores for AY 2017-18

Yes Bank received a consolidated order giving effect from the Jurisdictional Assessing Officer on September 30, 2026, following appellate orders for AY 2017-18.

Wed 30 Sep 2026

Income-tax Refund Amount

~Rs. 363 Crores

Assessment Year

2017-18

Order Date

September 30, 2026

Materiality Threshold

~Rs. 120 Crores

Components

Interest u/s 244A and tax benefit of certain expense

What was shared

Yes Bank intimated the exchanges of a development in its long-running income-tax matter for assessment year 2017-18.

Background as stated

• An assessment order u/s 143(3) was received in December 2019, with certain additions/disallowances.
• A reassessment order u/s 147 read with 144B was passed in March 2022 with further additions/disallowances.
• That reassessment considered income reported in the return instead of assessed income; rectification orders were passed by the JAO and CPC on April 15, 2025 recomputing the tax demand.
• The Bank shared a further rectification application and received an order u/s 154 on December 31, 2025.
• The Bank was in appeal against the assessment, reassessment and rectification orders; the first level appellate authority passed orders in October 2025 and November 2025.

The current development

Pursuant to those appellate orders, the Bank received a consolidated order giving effect (OGE) from the Jurisdictional Assessing Officer, Mumbai on September 30, 2026, determining a refund of ~Rs. 363 Crores.

The refund includes interest income determined u/s 244A of the Income-tax Act and the tax benefit of a certain expense claimed in the income-tax return. The Bank states the cumulative quantum of these two items exceeds the materiality threshold of ~Rs. 120 Crores prescribed under the amended Listing Regulations, which is why the disclosure was made.

Other details

• Quantum of claims: income-tax refund of ~Rs. 363 Crores.
• Expected financial implications due to compensation or penalty: stated as Not Applicable.

How investors may read it

This is a favourable outcome in a tax dispute, with a determined refund amount rather than a demand. The perception is generally positive, as it points to a potential cash inflow and an income element arising from interest and a tax benefit.

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