Word Waves Blog

Vodafone Idea Gets Rs 1,128 Crore Tax Refund After Bombay High Court Order Vodafone Idea Gets Rs 1,128 Crore Tax Refund | After Bombay High Court Order Vodafone Idea, one of the leading telecom operators in India, received a relief from the Bombay High Court on November 9.  The court ordered the income-tax department to refund Rs 1,128 crore that the company had paid in dues in 2016-17.  The company’s shares rose 2.5 percent in the early trade following the news. Why Did Vodafone Idea Pay the Dues? The dues were related to an assessment order passed by an income tax officer on August 31, 2023.  The order was issued two years after a dispute resolution panel (DRP) had given directions to Vodafone Idea regarding its tax liability.  The order claimed that the company had under-reported its income and inflated its expenses in the financial year 2016-17. Vodafone Idea challenged the order in the Bombay High Court, arguing that it was invalid and time-barred. The company s...