10 January 2014
my client had filed return for the assessment year 2010-11, in which depreciation as per books was not shown by mistake in calculation of the tax payable. So that AO added back depre. in income and made demand for tax on depreciation. That demand was outstanding and now refund of the assessee for the asst. year 2012-13 is adjusted against demand of asst. year 2010-11. Now what should i do to get back refund of asst. year 2012-13?
11 January 2014
well given that tax computation for earlier was wrong and under-reported, how are you looking for refund which has been adjusted against the pending demand???
and if you really are interested in getting the refund, then first pay the demand that was outstanding for AY 2010-11...does that make sense!!
12 January 2014
how would amending the return help here? you under-reported your tax liability?? the AO has already corrected the mistake...what else is left for you to amend?
CAclubindia
