tax refund
This query is : Resolved
20 March 2009
a company inreased its income by way of fraud, 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.
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.
21 March 2009
If reassessment proceding is taken against company and new tax liability is calculated by Tax Dept. then you are eligible for Refund but some restirction is levied u/s 239, 240 and 242 with a famous case law of Shelly Products is also to be consider, which restrict you to do so.
So here complete matter is a question of discussion and arguments with AO.
So here complete matter is a question of discussion and arguments with AO.
21 March 2009
Let this query be opened to take views of other experts as well.
In my point of view, satisfy the AO and calim your refund.
In my point of view, satisfy the AO and calim your refund.
21 March 2009
thank you for answer
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- SEC 54 OF IT ACT
- Form 26QB for TDS on property
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- GST Annual Returns filing due date
- BLOCKED-INELIGIBLE GST CREDIT
- Amendment of September 2021 Invoice
- Payable outstanding for years disallowance
- Regarding Form 15CA & CB
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
