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YES Bank to Receive ₹363 Crore Income-Tax Refund for AY 2017-18
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CNBC TV18•30-09-2026, 23:46
YES Bank to Receive ₹363 Crore Income-Tax Refund for AY 2017-18
- •YES Bank announced it will receive an income-tax refund of approximately ₹363 crore for Assessment Year 2017-18, following a consolidated order from the Jurisdictional Assessing Officer.
- •The refund includes interest income under Section 244A and a tax benefit for an expense claimed, exceeding the materiality threshold of ₹120 crore.
- •The matter involved an initial assessment order in December 2019, followed by reassessment proceedings in March 2022, which led to further additions and disallowances.
- •Rectification orders were passed in April 2025 and December 2025 to correct the computation of reassessed income and tax demand.
- •The bank had appealed against previous orders, and the consolidated order giving effect was received on September 30, 2026, confirming the refund.
Key Questions Answered
YES Bank is set to receive a consolidated income-tax refund of around ₹363 crore for the assessment year 2017-18, which includes interest income and a tax benefit related to a claimed expense.
The reassessment order incorrectly used reported income instead of assessed income for tax computations. To fix this, the JAO and Centralised Processing Center passed rectification orders to recompute the tax demand.
YES Bank received the consolidated order giving effect from the Jurisdictional Assessing Officer on September 30, 2026, following earlier appellate authority decisions in October and November 2025.
