The Indian Overseas Bank has received an order under Section 250 of the Income Tax Act,1961 advising the Bank that an order dated August 22, 2024 has been passed giving effect to the order of CIT (Appeals) dated December 12, 2023, according to the exchange filing.
As per the order dated August 22, 2024 (uploaded in Income-tax Portal) on September 18, 2024, the amount refundable to the Bank for the AY 2021-22 including interest u/s 244A of the Income-tax Act is ₹ 123,86,61,549/- .
The order was uploaded in the Income-tax Portal on September 18, 2024 and the Bank became aware of the information in respect of the above said order on September 19, 2024.
