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
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FBT
Replies (3)
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.........
yes u can claim for FBT in next Assessment Year.
Thanks,
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