We have wrongly selected business activity code while RUN LLP.
We are correctly mentioning Business Activity code while submitting Form FILLIP. Can we do so ?
Mr. A who was carrying on business in proprietary firm M/s A & CO expired in June 2015. His son Mr. B carried on the business in the same proprietary name and was allotted another TIN. The assessments of the proprietary firm up to June 2015 and the balance period were finalized separately. The assessment dues of the firm up to June 2015 were wrongly paid under the TIN of the new firm. Subsequently, the dues were again paid in the correct TIN to settle the dues.
However, the commercial Officer is refusing to refund the amount wrongly paid under the new TIN under the pretext that the firm is already assessed to tax and the same cannot be reopened. is there a way out.
DIRECT TAXES - ( DEDUCTION OF INDIRECT TAXES PAID )
A company has wrongly availed Input Tax Credit under erstwhile CENVAT Rules in 2015-16. During GST Audit in current year, this was found out and the company paid the wrong credit availed in earlier years as above now, i.e. in FY 2019-20. The same has been expensed off. Is it an allowable expenses under Income Tax Act? Please provide any case laws, if available.
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