FDC Limited has received a favourable order from the Assistant Commissioner of Income Tax, Mumbai, giving effect to an earlier order by the Commissioner of Income Tax Appeals. This decision mandates a refund of ₹20.71 crore for the Assessment Year 2013-14. The refund is related to the company’s appeal against certain disallowances made by the tax authority, including publicity expenses and disallowances under Section 14A.
Tax Refund Secured
FDC Limited has announced the receipt of an order from the Assistant Commissioner of Income Tax, Circle – 1(3)(1), Mumbai. This order implements the decision of the Commissioner of Income Tax Appeals (CIT(A)) for the Assessment Year (AY) 2013-14. The CIT(A) had accepted the company’s submissions, leading to a favourable outcome.
Order Details and Financial Impact
Consequently, the jurisdictional Assessing Officer (AO) passed an order on 29th October 2026, which was received by the company on 4th November 2026. This order gives effect to the CIT(A)’s decision and determines an aggregate refund of ₹20.71 crore due to FDC Limited. The appeal by the company was against disallowances related to publicity expenses and other matters under Section 14A of the Income Tax Act. The interest income included within this refund will be recognized as income in the company’s Statement of Profit and Loss.
Source: BSE
