Date: 01st September 2026
Other Operational / Legal / Strategic Disclosures
Karur Vysya Bank has received a favorable order from The Hon'ble Income Tax Appellate Tribunal regarding a tax dispute for Assessment Year 2022-23 (Financial Year 2021-22).
Litigation Details:
- Opposing Party: Faceless Assessing Officer, National Faceless Assessment Unit
- Date of Initiation: 12/04/2024
- Previous Status: The Bank had received an order from the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, which partly allowed the appeal filed by the bank against the demand of Rs. 40.34 crore raised by the Assessment Unit
- Current Status: The Income Tax Appellate Tribunal has set aside the Order passed by the Commissioner of Income Tax (Appeals)
- Financial Impact: The Bank states there is no impact on financial, operations or other activities of the Bank as a result of this favorable order
Background: The Bank had previously believed it had adequate factual and legal grounds to reasonably substantiate its position in the matter and expected that the entire demand of Rs. 40.34 crore would be set aside based on precedence/orders of appellate authorities.
Regulatory Context: This disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to earlier communications dated April 03, 2024 and May 26, 2026. The disclosure format follows SEBI Master Circular SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.