MTNL Gets Rs 1,461 Crore I-T refund

Mumbai: The NYSE-listed Mahanagar Telephone Nigam (MTNL) has got a refund of Rs 1,461.68 crore from the income tax (I-T) department, following the settlement of a decade-old litigation. Further, the state-owned telecom major is also hoping to get another Rs 2,000 crore as refund from the I-T department. The refund is in pursuant to an order from the Income Tax Appellate Tribunal (ITAT), which ruled in favour of MTNL''s arguments that its licence fee should be given a discount under the Section 80IA of the I-T Act. MTNL said that the appellate tribunal has accepted its views and granted it a deduction.