Date: September 30, 2026
Other Operational / Legal / Strategic Disclosures
Income Tax Litigation Outcome:
- YES BANK has received a consolidated Order Giving Effect (OGE) from the Jurisdictional Assessing Officer (JAO), Mumbai on September 30, 2026.
- The order determines a total income tax refund of approximately ₹363 Crores (Rupees Three Hundred and Sixty-three Crores only).
- This refund is the result of a multi-year litigation process concerning Assessment Year (AY) 2017-18.
Litigation History:
- The dispute originated with an assessment order passed under Section 143(3) of the Income-tax Act, 1961 in December 2019 for AY 2017-18, which made certain additions/disallowances.
- The Bank was subsequently subjected to reassessment proceedings, culminating in a reassessment order passed under Section 147 read with Section 144B of the Act in March 2022, which also made additions to the income.
- An error was identified wherein the reassessment order used the income reported in the original return instead of the assessed income for recomputation.
- On April 15, 2025, the JAO and the Centralized Processing Center (CPC) passed rectification orders to correct this mistake and recompute the tax demand. This was disclosed to exchanges on April 16, 2025 (Intimation no. YBL/CS/2025-26/010).
- The Bank filed a rectification application against the April 2025 rectification order and received a new rectification order under Section 154 of the Act on December 31, 2025. This was disclosed on January 1, 2026 (Intimation no. YBL/CS/2025-26/165).
- The Bank filed appeals against the assessment order, reassessment order, and rectification order before the first-level appellate authority.
- The first-level appellate authority passed orders in October 2025 and November 2025, which led to the issuance of the final OGE and refund determination.
Composition of Refund:
The refund of ~₹363 Crores comprises two key components:
1. Interest income determined under Section 244A of the Income-tax Act, 1961.
2. Tax benefit pertaining to a certain expense that was originally claimed in the income-tax return.
The cumulative quantum of these two items exceeds the materiality threshold of ~₹120 Crores as prescribed under the amended SEBI Listing Regulations.
Expected Financial Implications:
The disclosure states 'Not Applicable' for expected financial implications due to compensation or penalty, as the outcome is a refund for the company.
Quantum of Claims:
The confirmed quantum is an income-tax refund of ~₹363 Crores.
Regulatory Compliance:
Not Specified:
KMP / Board / Auditor Changes, Dividend Declaration, Board Meeting Outcomes, Financial Results, Auditor’s Report, Disinvestment / Strategic Actions, Media Release / Investor Communication.