Re: Can Refund in VSV in one A.Y. be Set-off against demand in other VSV CAse

Dear Sir,

I have filed 2 VSV scheme forms for A.y. 2010-11 and 2012-13.

In A.Y. 2010-11 Refund is 2 lakhs
In A.Y. 2012-13 Demand is 2.5 Lakhs

I Dont want refund of a.y. 2010-11 and want to get the same set-off against A.Y. 2012-13 and pay only difference. i.e. 0.5 lakhs.

Is the above treatment allowed in scheme. and how to avail that.

Thanks a lot sir in advance.

The Asssessee make declaration on the basis of refund due to the assessee. One has to be clear whether  the refund is determined by the Assessing Officer or it is only on the basis of calculation  made by the assessee. If the amount is quantified by the Department the assessee cam claim for the adjustment of the refund .    In case the refund is not adjusted the assesssee may have to move before the High Court by filing the writ petition .

 

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