18 May 2010
IT Return in Form No.5 filed for the a.y.2008-09 declaring value of FBT as Rs.18790/- and claim for refund of FBT tax paid. Assessing Officer passed an intimation u/s 115WE in June 2009 and assessee recd the same in March 2010 fixing the value of FBT at 35701/- and demanded further tax. Is it possible to file a petition u/s 154 of the Act or other remedies.
18 May 2010
can you tell me how the assessee recd the same after so many years?
And 154 is not a petition. its a rectification of mistake for the demand by AO. so if u think the value u/s 115E is calculated wrong than you can file it. Better you do it or else the interest is gonna very high.
CAclubindia
