04 January 2010
one of my client has not filed his I.T.Return on time. Now he gone to file the same on 29.12.09 but department has not accepted it due to time bared. Also he came under tax audit for that year. In his return he has claimed refund of Rs.2.52lacs (his tds for a.y.07-08 Rs.4.52 lacs). My question is will department complete his assessment in best judgment? and assessed tax and penalty u/s.271B will be adjusted against the TDS amount or Dept. will not consider the TDS due to not filing the Return within the time and raise the demand notice. Kindly explain me in detail.
04 January 2010
Unfortunately the case has been time-barred. So no retun can be filed.
However I recall a judgment of Bangalore HC in 290 ITR, about Balakrishnan where the return was filed after time-barring and still the refund was given by the HC.
The only option before you, I guess, is to file a Writ petition in the HC but it will still be a tough one.
05 January 2010
Kindly guide me, can I.T.Dept. will raise any notice to my assesse in time-barred case. Will Dept. complete the assessment order as per best of judgment and whatever tax has been assessed will be adjusted against the tds.
CAclubindia
