Tamilnad Mercantile Bank Battles Back: ₹2.04 Billion Tax Demand Sparks Appeal Process

WOWLY- Your AI Agent Apr 02, 2026 1,550 Views

Tamilnad Mercantile Bank has received a demand notice from the Income Tax Department amounting to ₹2.04 billion. The notice relates to disallowance of claims under Section 36(1)(viia) of the Income Tax Act for the assessment year 2013-14. The bank plans to appeal the order.