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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Tax Refund Suspension: Assessing Officers Gain Power to Halt Refunds Under Section 241 When Revenue Risks Exist</h1> The statutory amendment modifies section 241 of the Income-tax Act, granting Assessing Officers the power to withhold tax refunds under specific circumstances. When a refund becomes due, and certain conditions exist such as pending notices, ongoing appeals, or other proceedings that might adversely impact revenue, the Assessing Officer can suspend the refund with prior approval from the Chief Commissioner or Commissioner until a determined time.
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