Goa Carbon receives Rs 7.61 crore income tax refunds

Goa Carbon Limited has received two significant income tax refunds, totaling INR 7.61 crores, stemming from favorable court and departmental orders. The first refund, amounting to INR 5.29 crores including interest, relates to Assessment Year 1999-2000. This refund follows an order from the deputy commissioner of income tax department, Circle 1(1), Panaji, implementing a decision by the High Court of Bombay at Goa. The court had quashed disallowances under Section 80HHC of the Income Tax Act.

Additionally, the company received a second refund of INR 2.32 crores, including interest, for Assessment Year 2009-10. This refund, issued from the deputy commissioner of income tax department, Circle 1(1), Panaji, follows favorable orders passed by the CIT (A). The company confirmed receiving the first order via email on November 25, 2025, and uploaded the second order through the Income Tax Web Portal on November 26, 2025.