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

Vodafone Idea, which is facing a financial crisis after the apex court ordered it to pay AGR dues and penalties totalling Rs 53,000 crore, will, however, have to wait for other refunds

Vodafone Idea
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For AY 2017-18, Vodafone claimed a refund of Rs 743 crore. In total, Vodafone Idea sought around Rs 5,500 crore in tax refunds for the period between 2014-15 and 2017-18.

Dev Chatterjee Mumbai
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,

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