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of <h1>Section 245 Amended: Tax Authorities Can Offset Refunds Against Outstanding Liabilities and Withhold Refunds During Pending Assessments.</h1> Section 245 of the Income-tax Act has been replaced under the Finance Act, 2023. The new provision allows the Assessing Officer or relevant tax authority to set off a refund due to a taxpayer against any outstanding tax liabilities, after notifying the taxpayer in writing. Additionally, if a refund is due and assessment or reassessment proceedings are pending, the Assessing Officer, with approval from higher authorities, may withhold the refund if it is deemed to potentially harm revenue, until the assessment or reassessment is completed.
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