19 March 2009
Can a company (which previously inflated its income) claim a refund of taxes already paid on its inflated income for all the earlier years?
19 March 2009
i mean to say that a company inreased its income by way of window dressing, to take a loan from bank. two year after the mal practice has been discovered by income tax department.
can the company now make a claim to refund tax of the inflated income previously paid.
it is not wrongly taxes, but taxed previously on infalted income due to false disclosure of income.
CAclubindia
