• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Bank Of India Receives I-T Notice For Rs 1127 Crore

OMMCOM NEWS by OMMCOM NEWS
March 31, 2024
in Business

New Delhi: The Bank of India has received a demand notice from the Assessment Unit, Income Tax Department, about AY 2016-17 to the tune of Rs 1,127.72 crore.

The Bank has received a demand notice under section 156 of the Income Tax Act, 1961, about the annual year (AY) 2016- 17 wherein certain disallowances have been made.

“The Bank is in the process of filing an appeal before the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC) against the said order within the prescribed timelines. Looking at the precedence/Orders of Appellate Authorities, the Bank believes that it has adequate factual and legal grounds to reasonably substantiate its position in the matter. Accordingly, the Bank expects the entire demand to subside. As such, there is no impact on financial, operations or other activities of the Bank,” Bank of India said.

Bank of India said it would avail recourse provided in the Income Tax Statute against the demand of Rs 1,127.72 crore raised in the order.

(IANS)

Tags: Bank of India
ShareTweetSendSharePinShareSend
Previous Post

AIADMK Will Ally Again With BJP After LS Elections, Says Chidambaram

Next Post

Pawar Vs Pawar: A Fight For Supremacy In Baramati

Related Posts

Business

Sri Lanka’s Unpredictable Policies Driving Away Foreign Investors, Says US State Dept Report

September 30, 2025
Business

SEBI Imposes Rs 2 Lakh Penalty On Swan Corp Executive For Insider Trading Violations

September 30, 2025
Business

India-EFTA Trade Pact Aims $100 Billion Investment, 1 Million Direct Jobs From Oct 1

September 30, 2025
Business

RBI MPC Meet: Expect Next Rate Cut In December, Says Goldman Sachs’ Analyst

September 30, 2025
Business

India’s Fiscal Deficit In April-August Stands At 38.1 Per Cent Of Full-Year Target

September 30, 2025
Business

India Inc. Credit Ratio Rose To 2.56 Times In H1FY26: Report

September 30, 2025
Next Post

Pawar Vs Pawar: A Fight For Supremacy In Baramati

IPL 2024: Sai Sudharsan, David Miller Star As Clinical Gujarat Beat Hyderabad By Seven Wickets

Odisha Crime Branch Busts Racket Involved In Rs 1.04 Cr Fraud

Khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.