Man gets I-T refund after 11yrs
Eleven years after he began his fight for an incometax refund, a man has got his due along with accrued interests.
Prakash Aswani, who took VRS from United India Insurance Limited in 2003 filed his IT returns for fiscal 1995-96 on a gross total income of Rs 1.32 lakh, he said.
The tax on the income amounted to Rs 21,175, out of which Rs 17,670 had been deducted from his income as tax at source and Rs 12,000 was the permissible rebate he was eligible to claim. Hence, he claimed a tax refund of Rs 8,495.
However, he was told that his claims were rejected and he was directed to pay Rs 14,533 more as income tax. He filed an appeal, after which the department was ordered to pay the refund in 1997. The department then approached Appellate Tribunal which rejected the plea in 2000 and it was asked to pay the refund. PTI
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