Karur Vysya Bank Wins ITAT Order on ₹40.34 Cr Demand

has received a favourable order from the Income Tax Appellate Tribunal (ITAT) setting aside an assessment demand of ₹40.34 crore for Assessment Year 2022-23. The tribunal’s decision provides significant relief to the bank by nullifying the tax demand raised by the assessing authorities. The order is expected to have a positive impact on the bank’s contingent liabilities and overall financial position. Karur Vysya Bank continues to focus on its core banking operations while resolving legacy tax matters. The favourable outcome strengthens the bank’s compliance standing and reduces potential tax-related uncertainties for the relevant assessment year. Shareholders and stakeholders will view this development as a positive regulatory and financial development for the private sector lender. **Top stocks in the private banking industry:** Federal Bank, City Union Bank, and South Indian Bank.