Goa Carbon Gets Rectification Order, Further Refund of ₹1.2 Cr

Goa Carbon Limited has received a Rectification Order from the Income Tax Department concerning Assessment Year 2010-11. The order, dated July 10, 2026, rectifies a previous order from November 20, 2025, which had granted a refund of ₹76,15,436 but excluded statutory interest under Section 244A. The rectification allows for an additional refund of ₹1,20,44,555, including the previously excluded interest. The company had previously filed a grievance and a Writ Petition before the Bombay High Court, Goa Bench, due to the non-payment of statutory interest. Goa Carbon is currently evaluating the legal propriety of the rectification order and the computation of the interest granted, as well as determining the appropriate course of action for the pending Writ Petition.