Just In
- 11 hrs ago Realme C65 5G India Launch Confirmed; Coming Under Rs 10,000
- 11 hrs ago Instax Mini 99 Review: Should this be your next Instant Camera?
- 12 hrs ago Samsung Is Offering Free Screen Replacement for Select Devices Affected by Green Line Issue
- 13 hrs ago Boat Storm Call 3 Smartwatch Launched With up to 7 Days Battery Life – Check Price, Specs
Don't Miss
- Sports T20 World Cup 2024: How All Participating Nations Are Preparing For Big Show In USA And West Indies?
- Finance Free Shares Soon: Multibagger Energy Stock To Consider Bonus Share On April 25, Bags Order
- Lifestyle Hanuman Jayanti 2024: Hanuman Chalisa Lyrics With Meaning, When And How Many Times To Recite It
- Movies Karisma Kapoor Is ‘Summer Lovin’ Doll In Anavila Silk Kurta Set That You Can Swear By In This Scorching Heat
- Education Ratan Tata's Social Endeavors Recognized With KISS Humanitarian Award
- News US White House Considers Immigration Relief For Spouses Of US Citizens: What You Need To Know
- Automobiles Top Tips – How To Charge Electric Scooters For Best Battery Life
- Travel Kurnool's Hidden Gems: A Guide To Exploring India's Lesser-Known Treasures
Delhi HC dismisses Vodafone tax refund plea worth Rs 4,759 crore: Report
There is another report which says that Vodafone Idea has requested the telecom ministry not to hold spectrum auction till 2020.
The Delhi High Court has reportedly dismissed Vodafone's appeal seeking directions to the Income Tax department to fast-track the process of claiming for refund worth Rs 4,759 crore from the FY 2014-15 to 2017-18.
According to PTI reports, a bench of Justices S Ravindra Bhat and Prateek Jalan declined to grant any relief to the company, saying there was merit in the tax department's argument that substantial outstanding demand was pending against the company and there was likelihood of more demands being made after the assessment for the AYs in question were scrutinized.
It said there is some merit in the revenue's (tax department) argument that substantial outstanding demand is 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. The bench added that "The Revenue should have the right to adjust the demands against the refunds that may arise but have not yet been determined due to ongoing scrutiny proceedings."
Furthermore, it noted that assessments for the years in question were either facing a special audit or pending before the Assessment Officer (AO) for scrutiny and since scrutiny assessment of earlier years had led to raising of substantial demand, the tax department had decided not to process the company's returns.
Meanwhile, there is another report which says that Vodafone Idea has requested the telecom ministry not to hold spectrum auction till 2020.
"For 5G to work, a robust 4G network is a must. Accordingly, telecom service providers in India are currently focused on optimizing 4G networks and making them 5G ready, for which they have sufficient spectrum," the news agency quoted an email from the operator.
To recall Vodafone completed its merger with Idea Cellular to create the largest telecom company in the country.
The merger is expected to generate Rs.140 billion annual synergy, including opex synergies of Rs. 84 billion, equivalent to a net present value of approximately Rs.700 billion.
The entity will have 1850 MHz of total spectrum holding, over 200,000 unique GSM sites and 235,000 km of fiber, the merged company offers superior voice and broadband connectivity across the country, covering 92 percent of the population and reaching nearly 500,000 towns and villages.
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
14,999
-
26,634
-
18,800
-
62,425
-
1,15,909
-
93,635
-
75,804
-
9,999
-
11,999
-
3,999