HC Rejects Vodafone claim for Income Tax Refund of over Rs 4,759 Cr

Vodafone Mobile Services Ltd Vs ACIT & Anr. (Delhi High Court) Conclusion: Refund claim of Vodafone’s worth Rs. 4759.74 Crores was rightly rejected as Revenue had the right to adjust the substantial outstanding demands against the refunds that arose but had not yet been determined due to ongoing scrutiny proceedings. Held: In the present case, assessee filed a writ petition on account of inaction on the part of the Assistant Commissioner of Income Tax in not processing income tax returns for four Assessment Years which would result in issuance of refunds aggregating to Rs. 4759.74 crores...