Vodafone Idea Limited announced a favorable development regarding its ongoing tax litigation. The Supreme Court dismissed the Special Leave Petition (SLP) filed by the Income Tax Department, upholding the Bombay High Court’s directive to process the company’s tax refund.
Key Highlights:
- Background of the Case:
- Vodafone Idea had filed a writ petition in the Bombay High Court, requesting the Income Tax Department to issue its tax refund due to delays in the final assessment under Section 144C(13) of the Income Tax Act, 1961.
- The High Court had ruled in favor of the company in November 2023, instructing the Income Tax Department to process the refund within 30 days, along with applicable interest.
- Refund Processed:
- As per the High Court’s ruling, Vodafone Idea received ₹1,647+ crore, including interest, on December 8, 2023.
- Supreme Court Judgment:
- The Income Tax Department challenged the High Court’s decision by filing an SLP.
- On January 20, 2025, the Supreme Court dismissed the petition due to procedural delays, upholding the earlier ruling.
- Financial Impact:
- Vodafone Idea has already received the refunded amount, ensuring no further financial implications.
This judgment underscores Vodafone Idea’s legal standing in the matter and brings finality to this long-standing dispute. The company continues to focus on strengthening its financial and operational framework.
TOPICS:
Vodafone Idea