Indian Oil Corporation (IOC) has announced that its income-tax appeal related to assessment year 2016-17 has been partly allowed. The Commissioner of Income-tax (Appeals) has granted relief amounting to ₹1,102.91 crores. The company will contest the remaining disputed tax of ₹91.16 crores before the Income-tax Appellate Tribunal.
Income-Tax Dispute Update
Further to the disclosure dated August 14, 2023, regarding the ongoing income-tax dispute, Indian Oil Corporation (IOC) received an order from the Commissioner of Income-tax (Appeals) regarding the assessment order for AY 2016-17.
Appeal Outcome and Financial Impact
The Commissioner of Income-tax (Appeals) partly allowed the appeal, providing IOC with a relief of ₹1,102.91 crores against contested disputed tax and interest. The original disputed tax and interest amounted to ₹1,194.07 crores. The order was dated October 23, 2025.
Next Steps
Indian Oil Corporation will be contesting the remaining disputed tax of ₹91.16 crores before the Income-tax Appellate Tribunal. This decision reflects the company’s commitment to pursuing its claims through available legal channels.
Source: BSE
