“As per the order dated 22.08.2024 (uploaded on the Income Tax Portal) on 18.09.2024, the amount refundable to the Bank for the financial year 2021-22, including interest under section 244A of the Income Tax Act, is ₹“123.86.61.549,” Indian Overseas Bank said in a regulatory filing.
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The bank was notified of the order dated 22.08.2024, which was issued pursuant to the earlier decision of the Commissioner of Income Tax (Appeals) dated 12.12.2023. The order was uploaded on the Income Tax portal on 18.09.2024 and the bank came to know of it on 19.09.2024.
“Furthermore, we wish to inform you that the order was uploaded on the Income Tax Portal on 18.09.2024 and the Bank became aware of the information regarding the said order on 19.09.2024,” the bank added.
Shares of Indian Overseas Bank closed at ₹57.46, down ₹1.55, or 2.63%, on the BSE.
(Edited by: Shoma Bhattacharjee)
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