https://www.taxtmi.com/caselaws?id=388091 The court found that the withholding of the refund under Section 241A of the Income Tax Act was not justified as the Assessing Officer failed to provide written reasons for withholding the refund and the Principal Commissioner did not properly examine the reasons. The court directed the respondents to reconsider the withholding with detailed reasons and proper application of mind. It emphasized that the mere issuance of a notice under Section 143(2) does not automatically justify withholding the refund and outlined procedural requirements for assessing the impact on revenue. Failure to comply within two weeks would result in the refund being transmitted to the petitioner with interest. en-us Mon, 14 Oct 2019 00:00:00 +0530 Fri, 24 Jan 2020 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388091 The court found that the withholding of the refund under Section 241A of the Income Tax Act was not justified as the Assessing Officer failed to provide written reasons for withholding the refund and the Principal Commissioner did not properly examine the reasons. The court directed the respondents to reconsider the withholding with detailed reasons and proper application of mind. It emphasized that the mere issuance of a notice under Section 143(2) does not automatically justify withholding the refund and outlined procedural requirements for assessing the impact on revenue. Failure to comply within two weeks would result in the refund being transmitted to the petitioner with interest. Case-Laws Income Tax Mon, 14 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388091