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Refund of IT

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(Querist)
21 August 2008 Can Refund of One A.Y can be set-off against Tax Payable of another A.Y.
Eg: In A.Y 2007-08 he has get refund of Rs.3000. In A.Y 2008-09 he has to pay Tax of Rs.3750. Refund not yet received. Can that Refund be set-off and pay Rs.750?
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CA Nallathambi Srinivasan

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CA Nallathambi Srinivasan (Expert)
21 August 2008 No not possible.

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