Relief to Vodafone Idea as SC orders Rs 733-crore income tax refund



In partial relief to Vodafone Idea, the Supreme Court on Wednesday ordered the Income-Tax (I-T) department to refund the telecom company Rs 733 crore, pending for the assessment year (AY) 2014-15, within four weeks. The court also asked the department to conclude proceedings relating to the firm's demand of refunds in respect of AY 2016-17 and 2017-18 as early as possible.

Vodafone Idea, which is facing a financial crisis after the apex court ordered it to pay adjusted gross revenue (AGR) dues and penalties totalling Rs 53,000 crore, will, however, have to wait for other refunds, worth Rs 4,579 crore, from the I-T department.

The court order said that for AY 2014-15, Vodafone's then Indian entities filed income-tax returns (ITRs), claiming a refund of Rs 1,532 crore. In November 2015, Vodafone filed returns for AY 2015-16, claiming a refund of another Rs 1,355.51 crore.

A year later, the company claimed a refund of Rs 1,128.47 crore for AY 2016-17.
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