Central Bank Of India Gets Rs 296-Cr Demand Notice From Income Tax Dept
Central bank of India is in the process of challenging the said orders in the appropriate forum against disallowances/additions made in the said order
New Delhi : State-owned Central Bank of India on Tuesday said it has received a Rs 296.08-crore demand notice from the Income Tax Department for shortfall in payment of tax in FY25. "An assessment order under Section 143(3) read with Section 144B of Income Tax Act, 1961 dated March 28, 2026 from Assessment Unit, Income Tax Department along with a demand advising the bank to pay an amount of Rs 296.08 crore being demand for tax liability for the Assessment Year 2024-25," Central Bank of India said in a regulatory filing.
The bank is in the process of challenging the said orders in the appropriate forum against disallowances/additions made in the said order within the prescribed guidelines, it said.
Looking to the precedence/orders of appellate authorities, it said the bank believes it has adequate factual and legal grounds to reasonably substantiate its position in the matter and considering the expected relief, the bank expects that the entire demand will subside.
As such, it said, no impact is expected on financial, operations or other activities of the bank.
