The Delhi High Court has dismissed telecom major Vodafone's plea seeking directions to the Income Tax Department to expeditiously process its claim for refund of over Rs 4,759 crore in respect of returns filed for the assessment years (AYs) 2014-15 to 2017-18. "There is some merit in the revenue's (tax department) argument that substantial outstanding demand are pending against the petitioner. Further, the likelihood of substantial demands upon the assessee after the scrutiny for the AYs is completed, cannot be ruled out. It does not mean that when an assessment -pursuant to notice under Section 143 (2) is pending, such right to claim refund can accrue." "For the above reasons this court is of the opinion that there is no merit in the petitioner's argument.

Source: dna December 16, 2018 06:56 UTC