Verification timeline under section 245 reduced to expedite refunds by halving response period for taxpayers and assessing officers CPC will issue reminders to assessing officers or taxpayers to confirm, correct or accept arrear demands; failure by an assessing officer to respond will lead CPC to issue refunds without adjustment with the assessing officer remaining responsible for non adjustment, while failure by a taxpayer to respond will permit CPC to adjust the demand and issue any balance refund. The prescribed response period has been temporarily reduced to a shorter timeframe for notices issued in the remaining part of the financial year to expedite clearance of refund backlog.
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Provisions expressly mentioned in the judgment/order text.
Verification timeline under section 245 reduced to expedite refunds by halving response period for taxpayers and assessing officers
CPC will issue reminders to assessing officers or taxpayers to confirm, correct or accept arrear demands; failure by an assessing officer to respond will lead CPC to issue refunds without adjustment with the assessing officer remaining responsible for non adjustment, while failure by a taxpayer to respond will permit CPC to adjust the demand and issue any balance refund. The prescribed response period has been temporarily reduced to a shorter timeframe for notices issued in the remaining part of the financial year to expedite clearance of refund backlog.
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