Mumbai, 4th February 2026: The Shipping Corporation of India Ltd (SCI) has received a significant financial boost after securing a favorable ruling from the Income Tax Appellate Tribunal (ITAT), Mumbai, relating to the financial year 2009-10.
The tribunal upheld SCI’s claims on multiple grounds, including additions made to sundry receipts, treatment of interest income as part of core business activities, reversal of excess provisions, and adjustments to sundry creditors. As a result, the company has received an income tax refund of approximately ₹199.76 crore, which includes interest of around ₹85.75 crore, on 3rd February 2026.
The Shipping Corporation of India, a leading public sector maritime company, stated that the refund will positively impact its financial position and strengthen liquidity for ongoing and future operations.
Smt. Swapnita Vikas Yadav, Company Secretary and Compliance Officer of SCI, said, “This ruling confirms the correctness of our accounting and tax positions for FY 2009-10. We continue to maintain rigorous compliance with all regulatory and statutory requirements, ensuring transparency and governance in our financial reporting.”
SCI had proactively contested the additions and adjustments made by the Income Tax Department, and the tribunal’s ruling underscores the company’s commitment to safeguarding shareholder interests while adhering to regulatory norms.