In a relief to Vodafone Idea, the Supreme Court on Wednesday directed the Income-Tax department to refund the telecom company ₹833 crore, pending for the assessment year (AY) 2014-15.
On April 29, the apex court directed the Income Tax department to issue refund of ₹733 crore to Vodafone Idea for assessment year 2014-15.
The telecom service provider has been facing a financial crisis after the apex court ordered it to pay adjusted gross revenue (AGR) dues and penalties worth ₹53,000 crore.
The telco had earlier sought over ₹5,000 crore refund for the assessment years 2014-15 to 2017-18. For AY 2014-15, the Indian entity of Vodafone Idea filed income-tax returns, for ₹1,532 crore. In November 2015, Vodafone filed returns for AY 2015-16, claiming a refund of ₹1,355.51 crore. A year later, the company claimed a refund of ₹1,128.47 crore for AY 2016-17. For AY 2017-18, Vodafone claimed a refund of ₹743 crore.
The I-T department withheld the refund claiming that massive outstanding dues are pending and are yet to be settled with the telco. The apex court mentioned that the I-T department cannot withhold refunds against undetermined future demands.
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