Getting yesterday's date in shell script

Im in EST, and im using the command

CurrentDate=`TZ="EST+24" date +'%y%m%d'`

to get the yesterday's date.

Does this work perfectly for the boundary conditions of month end or year end(leap year) etc ?

yes it works fine, and i perfer to this

$ date -d '1 day ago'
Mon Feb 28 09:39:56 CST 2011
$ date
Tue Mar  1 09:39:58 CST 2011

Please read the FAQ.

http://www.unix.com/answers-frequently-asked-questions/13785-yesterdays-date-date-arithmetic.html