Quick Summary
In a significant development, the Income Tax department has announced its decision to refund Rs 190 crore to the Anil Agarwal-controlled mining conglomerate Vedanta, along with accrued interest, for the assessment year 2021-22. This decision comes after a hearing at the Delhi High Court bench, presided over by Rajiv Shakdher, where counsel Abhishek Maratha represented the revenue department and confirmed the refund. The court has set a compliance date for the order on October 30, providin
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FAQ :
Vedanta is set to receive a refund of Rs 190 crore, along with accrued interest.
The refund is for the assessment year 2021-22.
Vedanta filed a petition in the Delhi High Court after the Income Tax department failed to refund the amount. The revenue department confirmed the refund after a hearing.
The court has set October 30 as the compliance date for the refund order.
Yes, Vedanta had requested the court to direct the Income Tax department to offset this refund against an outstanding demand for the assessment year 2011-12.
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