[aaykarbhavan] Assessee shall get interest on refund arising out of excess tax paid on estimation basis before filing of return

Assessee shall get interest on refund arising out of excess tax paid on estimation basis before filing of return

August 28, 2014[2014] 47 taxmann.com 382 (Mumbai - Trib.)

IT : Where assessee paid tax prior to date of filing return, tax paid by assessee was nothing but self assessment tax for purpose of section 140A and thus, assessee was entitled for interest on refund under section 244A

IT : Where assessee offered a certain sum as direct expenditure but nothing was borne out from record as to which expenses were indirect in nature, formula prescribed under rule 8D(2)(iii), had to be applied

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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