TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income Tax Refund Delays: Section 119(2)(b) Guidelines Stress Scrutiny and Authenticity Checks for Large Claims by Businesses.</h1> The circular addresses the condonation of delays in claiming income tax refunds under section 119(2)(b) of the Income-tax Act. It references earlier instructions requiring prior approval from tax authorities for refund claims exceeding certain amounts. The Board emphasizes that Chief Commissioners and other tax officials should scrutinize refund claims, particularly those by contractors and businesses, to ensure they are genuine and not attempts to evade taxes. The Board advises against routine approval of delayed claims and stresses the importance of verifying the authenticity of the income declared and the potential for account manipulation. These instructions should be communicated to all relevant officers.
TaxTMI 
TaxTMI 
