Top court orders Income Tax refund of Rs 733 crore to Vodafone Idea

Telecom company had sought tax refunds for four years but it was allowed for 2014-15.

The Supreme Court on Wednesday asked the Income Tax department to refund within four weeks Rs 733 crore to Vodafone Idea Ltd for assessment year (AY) 2014-15.
 
Vodafone Idea, formerly known as Vodafone Mobile Services Ltd, had sought Rs 4,759.07 crore in tax refund from for AYs 2014-15, 2015-16, 2016-17 and 2017-18, but the court refused for other years.
 
"Insofar as AY 2014-15 is concerned, final assessment order passed under Section 143(3) of the (Income Tax) Act indicates that the appellant (telecom firm) is entitled to refund of Rs 733 Crores; while for AY 2015-16 there is a