We have received REFUND AGJUSTEMNT ADVICE from state bank of india . As per self assessment we have refund of Rs.11212/- ( assyr- 2005-2006). As per sbi refund adj - Demand yr-2009-2010 for ass yr(2005-2006) is rs 26315/- & 2010-2011 - 789/- date of adj 25.1.2011.
How do they do it? What is DEMAND YR & why they do not send us the intimation letter for the same?. Kindly advice
Thank ®ards PDandekar
Guest
Guest
(Expert)
26 March 2012
For any two assessment years the IT dept can adjust the refund for one year against demand for another year u/s 245. If the AO adjust refund with intimating his intention to do so,it is an illegal action, against which we can appeal.
26 March 2012
You shall require to visit the concerned ITO of your jurisdiction and shall require to carry a copy of the ROI filed and get the same rectified / verified as per the department records only then will the CPC be able to do anything about the refund.. this has now become a regular feature of the CPC to do so..
CAclubindia
