Crime Today News
Karur Vysya Bank said the assessment unit of the Income Tax Department has raised a demand of ₹ 160.33 crore for the AY (assessment year) 2023-24 pertaining to FY (financial year) 2022-23 on account of certain additions and disallowances made.
The private sector bank, in a regulatory filing, said it is in the process of filing an appeal before first appellate authority against the disallowances made.
The bank emphasised that it has adequate legal grounds to defend the demands raised and is hopeful that the demand will be set aside. Due to this, there is no impact on financial, operations or other activities of the bank, it added.
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