Income tax refund
SUNAD
(Querist) 21 June 2012
This query is : Resolved
Respected Sir
Our client had filed his returns before due date for FY 2006-07, 2007-08 and 2008-09. The returns were filed with nil tax liability. Now the client has come to know that he was eligible for Refunds amounting to Rs.40000/- in the above three years. Can we request the AO to Revise the intimation as issued under section 143(1) so as to get the refund. For FY 2006-07, the assessment cannot be reopened as 6 years have passed so is there any way to get the refund.
Shonee Kapoor
(Expert) 21 June 2012
No there is no way to get refund for the years when the assessment can not be opened.
Make a request to the commissioner of that area for rest of the financial years.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
C. P. CHUGH
(Expert) 25 June 2012
First the limitation to issue notice u/s 148 readwith section 149 for re-opening of the assessment for FY 2006-2007 relevant to AY 2007-2008 has not expired and notice can be issued, but in your case, since the return has already been filed the period by which a notice can be issued is restricted to Four Years and not Six Years unless the AO has reasons to belive that the total income escaping assessment is more than Rs. 1.00 lac.
On the basis of the facts stated by you wherein a total of refund of Rs. 40000.00 is due to you in all the three years, i donot think it wise to request AO to re-open all the assessments and get your self assesses u/s 143(3) of the Act. The entire excercise may cost you even more. Better forget about the refunds and sleep in peace.
