The Karur Vysya Bank Ltd gets demand notice from IT department

Income Tax department has completed the regular assessment under Section 143(3) and passed assessment order pertaining to AY 2023-24, wherein there is a demand of Rs. 160.33 crore on account of certain additions and disallowances made. The Assessment Order was received on 21/03/2025.

The Bank is in the process of filing appeal before first appellate authority against disallowances made and the Bank strongly opines that it has adequate legal grounds to defend the demands raised and the Bank 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.

Shares of Karur Vysya Bank Limited was last trading in BSE at Rs. 209.75 as compared to the previous close of Rs. 203.60. The total number of shares traded during the day was 31164 in over 703 trades.

The stock hit an intraday high of Rs. 210.35 and intraday low of 202.80. The net turnover during the day was Rs. 6459306.00.

Source : Equity Bulls

Keywords

KarurVysyaBank INE036D01028 KVB ITDepartment DemandNotice AY2024