Aluva: Federal Bank has secured a substantial tax refund, providing a financial boost after the resolution of a long-standing tax matter through appellate proceedings.
The bank received formal orders from the Income Tax Department’s Corporate Circle 2 (1), Kochi, on March 26, 2026. These orders were issued under Section 254 of the Income Tax Act, 1961, giving effect to the earlier ruling by the Income Tax Appellate Tribunal.
The refund pertains to assessment years 2015-16 and 2017-18. The total refundable amount, including applicable interest under Section 244A, stands at Rs 489,60,20,918, as detailed in the official communication on page 1. This reflects the cumulative outcome of the appellate decision.
The refund stems from an ITAT order dated August 13, 2024, which was subsequently implemented through departmental orders dated March 26, 2026. The process underscores the completion of regulatory and procedural steps required to finalize the refund.
The inflow is expected to support the bank’s liquidity position, offering additional financial flexibility. While the filing focuses on regulatory disclosure, the refund highlights a positive resolution of a tax-related matter that had been under consideration for multiple years.
Federal Bank Company Secretary Samir P Rajdev confirmed the receipt of the order as part of mandatory disclosure requirements. With the tax refund now confirmed, Federal Bank concludes a key tax matter, reinforcing its financial position through a sizable inflow backed by regulatory and judicial processes.
Disclaimer: This article is based solely on the company’s regulatory filing dated March 27, 2026, without independent verification or external analysis.
