SC rejects Rs 4,761 crore tax refund to Vodafone, telco to get only Rs 733 crore

Vodafone Idea suffered a setback on Wednesday when the Supreme Court dismissed its plea for a tax refund of around Rs 4,761 crore pertaining to assessment years 2014-15 till 2017-18. However, the apex court granted it a partial relief by directing the income tax department to refund an amount of Rs 733 crore within four weeks. This amount pertains to the assessment year 2014-15.

The IT department has still not completed the scrutiny of the other assessment years and the court said that it is well within its right under section 241 A to complete it within the time period which is before it. The scrutiny of other assessment years is still not over and therefore the court directed the IT department to complete it within the stipulated time period.