Legal21 Nov 2024, 01:52 am
Indus Towers Wins Landmark Supreme Court Case, Reducing Contingent Liability by Rs. 37,044 Mn
AI Summary
Indus Towers Limited has announced a significant positive outcome in a material litigation case regarding CENVAT credit on Input, Capital goods and Input services. The Hon’ble Supreme Court has pronounced the order, upholding the decision of Hon’ble Delhi High Court and overruling the Hon’ble Bombay High Court’s decision in the case of Bharti Airtel and Vodafone. This will result in a reduction of Rs. 37,044 Mn in contingent liability.
Key Highlights
- Indus Towers wins a landmark case in the Supreme Court regarding CENVAT credit.
- The decision upholds the Hon’ble Delhi High Court’s verdict and overrules the Hon’ble Bombay High Court’s decision in the case of Bharti Airtel and Vodafone.
- This will result in a reduction of Rs. 37,044 Mn in contingent liability for Indus Towers.