" We received I T refunds in two trenches aggregating to more than Rs.11,500 crore, after winning a dispute with the IT Department after Income Tax Appellate Tribunal (ITAT)" an LIC official who wished not to be named, said.adding that this refund happens to be the largest which the company has received so far. This could not be ascertained with the LIC chairman S K Roy. A text message sent to him also remained unanswered.
In the order dated April 3, 2013 ITAT Mumbai had delivered a judgment in favour of LIC with respect assessment years 2007-08, 2008-09 and 2009-10, the official said.
(T Sampath Iyengar)