https://www.taxtmi.com/caselaws?id=397250 Tax paid on a return filed in response to a section 158BC notice was held not refundable after the initiation notice for block assessment was quashed on the ground of short time. The return was treated as a valid, voluntary declaration, and the refund mechanism under section 240 read with its proviso applied only to the extent tax became refundable on the basis of that valid return and the assessment outcome. The claim under Article 265 also failed because the payment was made under the statutory framework on the return filed. Refund was therefore rejected. en-us Thu, 30 Jul 2020 00:00:00 +0530 Mon, 05 Oct 2020 07:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397250 Tax paid on a return filed in response to a section 158BC notice was held not refundable after the initiation notice for block assessment was quashed on the ground of short time. The return was treated as a valid, voluntary declaration, and the refund mechanism under section 240 read with its proviso applied only to the extent tax became refundable on the basis of that valid return and the assessment outcome. The claim under Article 265 also failed because the payment was made under the statutory framework on the return filed. Refund was therefore rejected. Case-Laws Income Tax Thu, 30 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397250