Central Bank of India Rs. 296 Cr Tax Demand

Central Bank of India received an income tax assessment order under Section 143(3) read with Section 144B for AY 2024-25.
The Income Tax Department demands Rs. 296.08 Crores in tax liability, arising from recomputation and disallowances on filed returns.
The Bank expects nil financial impact as it intends to dispute the entire demand before appropriate appellate forums.