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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Refund Approval Process Updated: Prior CIT Approval Removed; DC Approval Needed for Refunds Over Rs. 1 Lakh. Monitoring Enhanced.</h1> The procedure for obtaining prior approval for issuing refunds has been modified. The requirement for prior approval from the CIT is removed. Assessing officers must seek approval from the DC for refunds exceeding Rs. 1 lakh. If the assessing officer is a DC, they are responsible for ensuring refund correctness, following the procedure in Instruction No.1889. Each CCIT must establish a monitoring system to prevent fraud and ensure accurate refunds, potentially involving CsIT in reviewing large refunds.
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