If A.O disallows expenditure u/s 143(3) on account of excessive nature or personal nature, if FBT is already paid on that expenditure.Can assessee claim refund for FBT already paid ?
Thanks
Samrendra
(Asst. Manager- Internal audit)
(221 Points)
Replied 23 June 2009
See,
As far there is no case decided on the issue what happened if expenditure on which FBT has been deducted has been disallowed.
But As far as I am thinking that assessee can claim for the refund of FBT as if he does so. He deemed to do such work which clarrifies that he has tried to concelled the income therefore he should be punshiable with penalty too.........
pankaj kannaujiya
(accountant)
(61 Points)
Replied 23 June 2009
yes u can claim for FBT in next Assessment Year.
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