Ericsson India to bag Rs 349 crore tax refund

In a support for Ericsson India, the Delhi High Court docket has directed the earnings-tax division to liberate a refund of ₹349 crore. The refund pertains to Evaluate 300 and sixty five days 2018-19. The court docket jam aside an repeat by the earnings tax division to withhold the refund to the firm below Section 241A of the Earnings Tax Act.

The court docket accepted that the firm had earlier approached the court docket with a identical criticism, which changed into once regarding I-T refunds for Evaluate Years 2016-17, 2017-18 and 2018-19.

The court docket had then requested the tax division to present an intensive plan of withholding the tax and arena the refund in six weeks, failing which it would be susceptible to pay ardour. After the court docket repeat, the division refunded ₹561.72 crore, alongside side ardour till Would possibly perchance perchance 2020, in admire of AY 2017-18. On the other hand, a recent repeat changed into once passed by the assessing officer, announcing the firm would possibly maybe merely must agree with tax liability in the differ of ₹500 crore in AY 2018-19, and, which potential reality, refund sought of ₹349 crore be denied.

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