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of <h1>Income Tax refunds could be withheld under Section 241A if they might impact revenue; rule expired April 2023.</h1> Section 241A of the Income Tax Act, effective from April 1, 2017, allowed the withholding of refunds due to taxpayers if the Assessing Officer believed that issuing the refund could negatively impact revenue, especially when a notice under section 143(2) had been issued. The officer could withhold the refund, with written reasons and prior approval from the Principal Commissioner or Commissioner, until the assessment was completed. This provision ceased to apply after April 1, 2023.
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