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of <h1>Tax Refund Claims Must Be Resolved in Six Months to Avoid 9% Interest as per Section 243(1)(b.</h1> The circular instructs that claims for tax refunds under Section 239(2) of the Income Tax Act, 1961, should be resolved promptly within the stipulated time frame, specifically within six months, to avoid incurring interest payments. It clarifies that the Income Tax Officer (ITO) should not delay refund proceedings to the end of the one-year period allowed under Sections 153(1)(a)/(c). If refunds are not granted within six months of the claim, the Central Government is required to pay simple interest at nine percent per annum, as per Section 243(1)(b).
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