Query for Refund of Income Tax

yes ofcourse file a applciation for 154 and calcultate the correct tax amount. he will accept it. dont worry

I agree with you shivang

since return is filed after due date it cannot be revised so application u/s 154 is the only option

yes i agree with nikita 's opinion

yes shivang is correct

if someone have not TDS certificate (Form -16A) but  (view in 26AS) there is tds is deducted show can he claim for refund without certificate.

Sorry everyone, i didnt see the AY. its already late to claim refund as the Assessment for 06-07 is all ready over. Reassessement can only be done by AO. even application u/s 154 can be filed against the notice of demand by AO. Here it is not the case. So now its not possible to go for 154....

Sorry guys... IF other experts can have their opinion than they are welcome.....

How can 154 be moved. 154 is for any change in order or intimation U/s 143(1).

yes refund could be claimed but not within the legal limits of the law. If the refund belongs to Delhi ITO, I will help you out. 

Regards

Piyush

The refund relates to A.Y. 2006-07 and since the time period for completion of assessment has already expired, therefore, it is a DEEMED ASSESSMENT. Since, Sec 154 is attracted if there is any mistake apparent from record and in this case the mistake is apparent from record. Moreover, refund can be claimed even if it is a refund of Self Assessment Tax because refund is not based on the type of tax but on the fact that excess tax has been paid by the assessee than the assessed tax. Therefore, in my opinion department has to process the refund and have to pay it to the assessee along with the till date interest. Issuing of Refund is the only option available to the Department for completion of assessment for the particular year as the case is time barred and there is no time limit for claiming of refund.

Mr. Piyush and MR . Bhavesh.... the explanation is quite ok... i agreee.

@ Bhavesh: you mentioned that there is a mistake apparent to record. But if you see the mistake is done by the assesee and the Ao has accepted the liability and didnot raise any demand or refund based on the ITR filed. It was the mistake by assessee and he didnt file revised return...

Now with due respect i request to think over again and reply.....Please correct me if i am wrong.

Mr. Shivang, I agree that that the mistake was made by the assessee but he was never informed of it by the AO who came to know about the mistake and the meanwhile time for filing revised return has expired. AO could have considered it a defective return and have intimated the assessee to correct it but again it has its own time limit. The assessment has to be done and in present time it can be done only in the favour of the assessee as all other time limits have expired. Just by not raising the demand AO cannot say that he accepted the liability.. There is no reason in law for which the AO can hold the refund..

  

I agreee......But my friend lets think practically..

There is a criteria for assessment to be done by the AO.. You can have it from IT website or from office..They dont have time to check the ITR for every return.. Its your bad luck or your good luck if you fall in that criteria....

Here he has not received any intimation from the AO. And assessment can be only dont with the period of 3-4 years frm the end of AY. he did assessment on the basis of the ITR( if he had done it).

ALso they wont say your mistake if their is refund due to you... And if you have to pay tax than you are most welcome in IT office. AO is not in a fault. Hardly 10% of the total ITRs filed get in the criteria of assessment...

Please go through section 154 twice. I already asked the querist to file 154 or jst write an application to AO requesting the same.....

Please correct if i am wrong... Thnks

Yes, Shivang only option left with us now is to file an application requesting for rectification u/s 154 which AO will reject. and the we can go in appeal. i have asked to various experts also regarding this, one synonymous opinion came from expert was "Govt. cannot keep money with it which is not Its". doctrine of Unjust Enrichment applies here. But as i told you earlier practically going into appeal does not make sense (as amount involved in refund is Only Rs. 3507/-). would like to have your last say on this Shivang.

Application for 154 will surely be rejected... Just write an application and meet the AO of the ward... Attach proper calculation also... Definately he will ask that why u didnt file the Revised return. SO give any eexcuse....

I will say just go and meet him.... with a simple applicaiton and tax calculation with rectification of mistake done before.... If he says you can file 154 and will be accepted than your problem is solved..... Or else do as he says...

Dont go for appeal for the small amount....