IOC Receives ₹1,102.91 Crore Relief in Tax Dispute for AY 2016-17

Indian Oil Corporation Ltd (IOCL) has received partial relief in an income tax case for the Assessment Year 2016-17, as per the exchange filings. The Commissioner of Income-tax (Appeals) [CIT(A)] passed an order on October 23, 2025, granting the company relief of ₹1,102.91 crore against the total disputed tax and interest demand of ₹1,194.07 crore.

Case Background

The dispute was related to several disallowances made during the assessment process for AY 2016-17. IOCL had disclosed this ongoing tax dispute earlier on August 14, 2023, when it was pending before the first appellate authority, the CIT(A). The company had contested the full amount of ₹1,194.07 crore, which included both tax and interest components.

Regulatory Disclosure

Following the order, IOCL informed the stock exchanges on October 24, 2025. The company’s submission stated that the appeal had been partly allowed and that relief was granted on issues decided in its favour. The disclosure was signed by Kamal Kumar Gwalani, Company Secretary, on behalf of the corporation.

Pending Amount

After receiving partial relief, a disputed balance of ₹91.16 crore remains unresolved. IOCL has said it will contest this portion before the Income-tax Appellate Tribunal (ITAT), the next level of appeal in the income-tax process. The company will continue to update exchanges until the matter is fully concluded.

Details as per SEBI Filing

The disclosure mentioned that the relief amount of ₹1,102.91 crore was based on the CIT(A)’s decision, and the balance will be taken up with the higher authority. No settlement or penalty details were reported as part of this filing.

Read More: Indian Oil to Invest ₹1.66 Trillion in Refining, Petrochemicals, and Green Energy!

Indian Oil Corporation (IOC) Share Price Performance

As of October 27, 2025, 09:30 AM, Indian Oil Corporation (IOC) share price was trading at ₹152.20, a 1.22% increase from the previous closing price.

Conclusion

Indian Oil Corporation received ₹1,102.91 crore relief in its income tax appeal for AY 2016-17. The remaining ₹91.16 crore will be pursued before the ITAT.

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