Income-tax refunds of ₹100.83 crores received for two assessment years

Company has received refunds of ₹82.73 crores for AY 2013-14 (October 05, 2026) and ₹18.10 crores for AY 2020-21 (October 03, 2026), aggregating ₹100.83 crores.

Tue 6 Oct 2026

Income-tax refund AY 2013-14

₹82.73 crores (received October 05, 2026), includes interest of ₹25.65 crores

Income-tax refund AY 2020-21

₹18.10 crores (received October 03, 2026), includes interest of ₹4.79 crores

Aggregate refunds received

₹100.83 crores

What the company disclosed

United Breweries Ltd has informed the exchanges that it received income-tax refunds determined in orders giving effect passed earlier by the Joint Commissioner of Income Tax, Circle 7(1)(1)(OSD).

• Refund of ₹82.73 crores for assessment year 2013-14, received on October 05, 2026
• Refund of ₹18.10 crores for assessment year 2020-21, received on October 03, 2026
• The two refunds aggregate to ₹100.83 crores

How much of it is interest

The update states the AY 2013-14 refund of ₹82.73 crores includes interest of ₹25.65 crores, and the AY 2020-21 refund of ₹18.10 crores includes interest of ₹4.79 crores.

Background of the two disputes

AY 2013-14: the return was selected for scrutiny and an order was passed on October 09, 2017 under section 143(3) read with Section 144C(13), making certain transfer pricing and corporate tax adjustments. The company appealed to the Income Tax Appellate Tribunal, Bangalore. The ITAT passed its order on June 01, 2022, deciding a few issues in favour, a few against the company, and remanding a few matters back. On the issues decided against, the company has appealed to the High Court of Karnataka, which is pending. On the other matters, the Assessing Officer, after verification, passed an order giving effect on January 23, 2026 and determined the refund of ₹82.73 crores. The company has again appealed against that order and the adjustments before the ITAT, which is pending.

AY 2020-21: the return was selected for scrutiny and an order was passed on September 23, 2022 under section 143(3) read with Section 144B, making certain corporate tax adjustments. The company appealed to the ITAT, which passed its order on January 31, 2024, deciding a few issues against the company and remanding a few matters back. On the issues decided against, the company has appealed to the High Court of Karnataka, which is pending. On the other matters, the Assessing Officer, after verification, passed an order giving effect on March 16, 2026 and determined the refund of ₹18.1 crores. The company has again appealed before the Commissioner of Income-tax (Appeals), which is pending.

Company's stated impact

The update states this outcome has a positive impact on the working capital and the profit & loss account by way of interest income. The quantum of claims is stated as Nil for both years.

Points a reader may want to track

• The refunds relate to two specific assessment years and follow orders giving effect to earlier appellate orders
• Appeals on some issues are still pending before the High Court of Karnataka, and fresh appeals have been shared against the orders giving effect
• The company attributes the positive impact to interest income on working capital and the profit & loss account

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