tax refund
This query is : Resolved
20 March 2009
a company inreased its income by way of fraud, to take a loan from bank.
two year after the mal practice has been discovered by income tax department.
can the company now make a claim to refund tax of the inflated income previously paid.
two year after the mal practice has been discovered by income tax department.
can the company now make a claim to refund tax of the inflated income previously paid.
21 March 2009
If reassessment proceding is taken against company and new tax liability is calculated by Tax Dept. then you are eligible for Refund but some restirction is levied u/s 239, 240 and 242 with a famous case law of Shelly Products is also to be consider, which restrict you to do so.
So here complete matter is a question of discussion and arguments with AO.
So here complete matter is a question of discussion and arguments with AO.
21 March 2009
Let this query be opened to take views of other experts as well.
In my point of view, satisfy the AO and calim your refund.
In my point of view, satisfy the AO and calim your refund.
21 March 2009
thank you for answer
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- TDS on property - Form 141 query
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Banking Related Issue
- Average Cost Of High Quality Diamonds
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Difff in ais receipts and gst turnover
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
