Vodafone Idea wins ₹833 crore income tax refund case

The Supreme Court on Wednesday dismissed a petition filed by the income tax department challenging a lower court’s order asking it to refund ₹833 crore to Vodafone Idea Ltd.

The Bombay High Court in June had ordered the tax department to refund the said amount to the telco for the 2014-15 assessment year, in which the income earned in the previous fiscal is assessed.

Vodafone Idea should get the refund immediately as the top court did not stay the Bombay High Court order directing to process the amount within two weeks, said Prashant Meharchandani, senior associate at PDS Legal. The high court order was passed on 26 June.