Indian Bank gets demand notice for Rs 873 crore from income tax dept
CHENNAI: Public sector Indian Bank has received a notice of demand from the assessment unit of the income tax department for Rs 873 crore.
Looking to the precedence/orders of appellate authorities, it believes that there are adequate factual and legal grounds to reasonably substantiate its position in the matter.
“Considering the expected relief, the bank expects that the entire demand will subside,” it added.
There was no impact on financial, operations or other activities of the bank, it said.
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Looking to the precedence/orders of appellate authorities, it believes that there are adequate factual and legal grounds to reasonably substantiate its position in the matter.
“Considering the expected relief, the bank expects that the entire demand will subside,” it added.
There was no impact on financial, operations or other activities of the bank, it said.
Stay informed with the latest business news, updates on bank holidays and public holidays.
Boost your business with AI. Join this course by GrowFast and unlock the power of artificial intelligence. Sign up now!
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