Excl: MTNL to get Rs 1400 cr tax refund

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Excl: MTNL to get Rs 1400 cr tax refund

CNBC-TV18 learnt that State-run telecom Mahanagar Telephone Nigam Ltd (MTNL) is expected to get a tax refund of Rs 1,400 crore as the Tribunal upholds the company's stance on tax dispute. The telecom major would get back Rs 756 crore along with Rs 624-crore interest for four assessment years.

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CNBC-TV18 has learnt that State-run telecom Mahanagar Telephone Nigam Ltd (MTNL) is expected to get a tax refund of Rs 1,400 crore as the Income Tax Appellate Tribunal (ITAT) upholds the company's stance on tax dispute.

The telecom major would get back Rs 756 crore along with Rs 624-crore interest for four assessment years.

The ITAT, last week, gave its decision in favour of the company.

However, a one-year decision is still pending for nearly Rs 1,000 crore.