NSEPendency of Litigation(s)/dispute(s) or the outcome impacting the Company30 Jun 2026 · 30 Jun 2026, 07:56 am
Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
Yes Bank Limited · YESBANK
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Yes Bank has informed the exchange about the outcome of a tax dispute, where the bank received a refund of Rs. 879 Crores, including interest income and tax benefit, following the first level appellate authority's orders on assessment and reassessment orders.
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Full Announcement
Yes Bank Limited has informed the Exchange about Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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YBL/CS/2026-27/50
June 30, 2026
National Stock Exchange of India Limited BSE Limited
Exchange Plaza, Plot no. C/1, G Block, Corporate Relations Department
Bandra - Kurla Complex, Bandra (E) P.J. Towers, Dalal Street
Mumbai - 400 051 Mumbai – 400 001
NSE Symbol: YESBANK BSE Scrip Code: 532648
Dear Sir/Madam,
Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“Listing Regulations”)
The Bank had received assessment order passed u/s 143(3) of the Income-tax Act, 1961 (‘the
Act’) in February 2020 for assessment year (‘AY’) 2018-19 wherein certain additions/
disallowances were made.
The Bank was also subjected to reassessment proceedings for AY 2018-19 and the
reassessment order was passed u/s 147 read with 144B of the Act in March 2024, wherein
certain additions/disallowances were made to the income determined in the assessment
order. Pursuant to the said reassessment order, the additional demand for tax liability
(including interest) amounting to Rs. 112.81 Crores was raised against the Bank. The said
additional demand was disclosed vide letter bearing reference no. YBL/CS/2023-24/183
dated March 28, 2024.
Aggrieved by the additions/disallowances made in both these orders, the Bank had filed
appeals before the first level appellate authority. The first level appellate authority passed its
orders in respect of the assessment and reassessment orders on October 27, 2025 & December
30, 2025 respectively.
Pursuant to the orders passed by the first level appellate authority, the Bank received a
consolidated OGE (i.e., order giving effect) from the Jurisdictional Assessing Officer (‘JAO’)
determining refund of Rs. 879 Crores. The said refund includes interest income determined
u/s 244A of the Act and tax benefit of a certain expense claimed in the income-tax return. The
cumulative quantum of both these items (interest income and tax benefit) is in excess of the
materiality threshold of ~Rs. 120 Crores as prescribed under the amended Listing Regulations.
Accordingly, the above information as required under Regulation 30 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 read with Schedule III and the
SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30,
2026, is enclosed as Annexure A.
The weblink of BSE Limited and National Stock Exchange of India Limited providing the
above information is being hosted on the Bank’s website www.yes.bank.in pursuant to the
Listing Regulations, as amended.
We request you to take the above on record.
Thanking you,
Yours faithfully,
For YES BANK LIMITED
Sanjay Abhyankar
Company Secretary
Encl: As above
Annexure A
Sr. Details of Events that Details / Information of such events(s)
No. need to be provided
Name of court/ tribunal/agency
Jurisdictional Assessing Officer (JAO), Mumbai
Brief details of dispute / litigation
The Bank had received assessment order in March 2020
for AY 2018-19 wherein certain additions /
disallowances were made. Thereafter, the Bank was in
receipt of reassessment order in March 2024. Pursuant
to the said reassessment order, the additional demand
for tax liability (including interest) amounting to Rs.
112.81 Crores was raised against the Bank. The said
additional demand was disclosed vide letter bearing
Brief details of litigation reference no. YBL/CS/2023-24/183 dated March 28,
viz. name(s) of the 2024.
opposing party, court/
1 tribunal/agency where The Bank was in appeal against assessment order and
litigation is filed, brief reassessment order before the first level appellate
details of authority who passed the orders in respect of
dispute/litigation assessment order and reassessment order in October
2025 & December 2025 respectively.
Pursuant to the orders passed by the first level
appellate authority, the Bank received a consolidated
OGE (i.e., order giving effect) from the Jurisdictional
Assessing Officer (‘JAO’) determining refund of Rs.
879 Crores. The said refund includes interest income
determined u/s 244A of the Act and tax benefit of a
certain expense claimed in the income-tax return. The
cumulative quantum of both these items (interest
income and tax benefit) is in excess of the materiality
threshold of ~Rs. 120 Crores as prescribed under the
amended Listing Regulations.
Expected financial
2 implications, if any, due to Not Applicable, as explained above
compensation, penalty etc.
Income-tax refund – Rs. 879 Crores (Rupees Eight
Hundred and Seventy-nine Crores only) including interest
3 Quantum of claims
and tax benefit of a certain expense claimed in income-
tax return).