Withholding of tax refunds: fixed short-term post-assessment withholding replaces requirement of adverse-revenue opinion under section 245. Section 245(2) is amended to remove the requirement that the Assessing Officer form an opinion that granting a refund is likely to adversely affect revenue before withholding a refund where assessment or reassessment is pending; the provision retains the need for reasons to be recorded and prior approval by the Principal Commissioner or Commissioner, and replaces withholding until the date of assessment with a limited post-assessment withholding period.
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Provisions expressly mentioned in the judgment/order text.
Withholding of tax refunds: fixed short-term post-assessment withholding replaces requirement of adverse-revenue opinion under section 245.
Section 245(2) is amended to remove the requirement that the Assessing Officer form an opinion that granting a refund is likely to adversely affect revenue before withholding a refund where assessment or reassessment is pending; the provision retains the need for reasons to be recorded and prior approval by the Principal Commissioner or Commissioner, and replaces withholding until the date of assessment with a limited post-assessment withholding period.
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