https://www.taxtmi.com/caselaws?id=413921 The court held that withholding the income tax refund under Section 241A without providing reasons and evidence of an existing demand was not valid. It emphasized the necessity of the Assessing Officer forming an opinion with reasons and prior approval before withholding refunds. The court ruled that the action lacked proper application of mind and violated the assessee's right to be heard. Consequently, the court directed the respondents to refund the withheld amount with interest, stressing the importance of following legal procedures in withholding income tax refunds. en-us Fri, 06 Aug 2021 00:00:00 +0530 Sat, 23 Oct 2021 07:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413921 The court held that withholding the income tax refund under Section 241A without providing reasons and evidence of an existing demand was not valid. It emphasized the necessity of the Assessing Officer forming an opinion with reasons and prior approval before withholding refunds. The court ruled that the action lacked proper application of mind and violated the assessee's right to be heard. Consequently, the court directed the respondents to refund the withheld amount with interest, stressing the importance of following legal procedures in withholding income tax refunds. Case-Laws Income Tax Fri, 06 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413921