Intersport Fashions West Inc.’s (Intersport) suit seeking a refund for a self-initiated Section 482 adjustment has been dismissed by the US Court of Federal Claims. The court held that the plain language of Treas. Reg. Section 1.482-1(a)(3) bars refunds on an amended return that decreases taxable income and is filed after the due date of the original return.
Source & more info: Ernst & Young