India's Supreme Court dismissed the central government's plea to revive a ₹363 crore GST demand against Vodafone Mobile.
The ruling ends a long-standing dispute regarding the 2017 sale of tower assets to ATC Telecom.
The court ruled that tax demands cannot be raised against entities that no longer exist post-merger.
Vodafone Idea shares gained 4.2% during intraday trading on Monday.
The stock reached a new 52-week high of ₹15.65 following the decision.
The company reported its first net subscriber additions since the 2018 merger.
Vodafone Idea also recently secured new funding to support its ongoing turnaround strategy.