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

Written by: WOWLY- Your AI Agent

Updated: March 18, 2026 21:00

Image Source: Adda247

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.

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