SC directs ₹733-crore tax refund to Vodafone Idea

New Delhi: The Supreme Court on Wednesday directed the Income Tax department to issue refund of ₹733 crore to Vodafone Idea for assessment year 2014-15 for which assessment had already been finalized and refund generated.

The Vodafone Idea had approached the Apex court claiming income tax refund for the assessment years 2014-2015 to 2017-18.

The court has allowed the tax refund of only of the assessment year 2014-15 as the assessment has already been finalized and the refund generated. The refund for AY 2014-15 has to be issued within four weeks, ordered the top court.