a corporation, which had unused SRED credits for its 2007 taxation year, carried those credits back to its 2004 taxation year along with instalment payments made in 2007. When the 2004 return was filed three years and 11 days after the 2004 year end, it showed that taxes had been overpaid. A refund claim for these taxes was barred by s. 164(1) as the return was not filed within three years.
CRA indicated that "the company could request that the tax, including instalments, which were overpaid in the 2004 taxation year be re-appropriated in full to another amount or amounts that are or may become payable in a subsequent year or years."