Mahanagar Telephone Nigam Ltd has obtained refunds from Income Tax Department for assessment years 2001-02 & 2003-04. The total amount received from Income Tax Department amounting to Rs 5.16bn out of which Rs 1.31bn has been refunded towards interest on refunds.
The amount of interest will increase the profits of the company for the financial year 2008-09, out of this, Rs 1.25bn has been already taken into account in the 3rd quarter of 2008-09.
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