Federal Bank to receive Rs 686 crore tax refund after tribunal ruling

Federal Bank is set to receive a substantial Rs 686 crore tax refund, marking the resolution of a long-standing tax dispute. This significant financial boost, covering assessment years 2012-13 and 2013-14, is expected to positively impact the bank's profitability in the upcoming quarter. The development follows recent orders from the Income Tax Appellate Tribunal.