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In a relief to Vodafone Idea, the Supreme Court on Wednesday directed the Income-Tax department to refund the telecom company Rs 833 crore, pending for the assessment year (AY) 2014-15. On April 29, the apex court directed the Income Tax department to issue a refund of Rs 733 crore to Vodafone Idea for the 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 Rs 53,000 crore.
The telco had earlier sought over Rs 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 Rs 1,532 crore. In November 2015, Vodafone filed returns for AY 2015-16, claiming a refund of Rs 1,355.51 crore. A year later, the company claimed a refund of Rs 1,128.47 crore for AY 2016-17. For AY 2017-18, Vodafone claimed a refund of Rs 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.
