Court Rules Against Automatic Tax Refund Adjustments Without Section 245 Compliance of the Income Tax Act.

Court Rules Against Automatic Tax Refund Adjustments Without Section 245 Compliance of the Income Tax Act. https://www.taxtmi.com/highlights?id=62585 Set off of refunds against tax remaining payable / outstanding demand - The respondents are not empowered to adjust the refund amount automatically without complying the provisions of Section 245 of the Act. Adjustment made against the refund due to the petitioner for the relevant year therefore have to be set aside. Accordingly, they are set aside. - HC en-us Thu, 24 Mar 2022 17:11:21 +0530 Thu, 24 Mar 2022 17:11:21 +0530 TaxTMI RSS Generator Court Rules Against Automatic Tax Refund Adjustments Without Section 245 Compliance of the Income Tax Act. https://www.taxtmi.com/highlights?id=62585 Set off of refunds against tax remaining payable / outstanding demand - The respondents are not empowered to adjust the refund amount automatically without complying the provisions of Section 245 of the Act. Adjustment made against the refund due to the petitioner for the relevant year therefore have to be set aside. Accordingly, they are set aside. - HC Highlights Income Tax Thu, 24 Mar 2022 17:11:21 +0530 https://www.taxtmi.com/highlights?id=62585