SC dismisses income tax petition against Vi, reinstates Rs 1,600 cr refund

The Supreme Court has upheld a Bombay High Court order directing the Income Tax Department to refund Rs 1,128 crore to Vodafone Idea (Vi), along with interest of Rs 500 crore, the telco informed the exchanges on Tuesday. However, the total refund of Rs 1,600 crore had already been received by Vi in December, and the latest developments will not result in any new receivables for the company, Vi said.