Relief for Vodafone Idea! SC directs for tax refunds of ₹833 crore

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. The Bombay High Court earlier ordered the tax department to refund the said amount to the telcom service provider.

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 over ₹55,000 crore.