The Shipping Corporation of India (SCI) has received a favorable order from the Income Tax Appellate Tribunal pertaining to the financial year 2009-10. Consequently, the company received an income tax refund of ₹199.76 crore, which includes an interest component of approximately ₹85.75 crore. The refund was credited on February 3, 2026.
Favorable Tribunal Order
The Shipping Corporation of India (SCI) has announced a significant development regarding its financial status. A favorable order was received from the Income Tax Appellate Tribunal on May 8, 2024, related to the financial year 2009-10.
Details of the Refund
As a result of this positive ruling, the company has received a substantial income tax refund totaling ₹199.76 crore. This amount includes approximately ₹85.75 crore in interest. The refund was officially received on February 3, 2026.
Grounds for the Order
The order covers various grounds, including additions made to sundry receipts, interest income forms part of core activity, Excess Provision written back, and sundry creditors written back, among others.
Source: BSE
