The refund payable under any other act against the demands due from the assessee.

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....act may be adjusted against demands payable by them under the other direct taxes enactments. 2. At present there is no provision for such adjustment of refunds. For example u/s.245 of the I.T.Act an income-tax refund can be set off against income-tax demand only. But the procedure of receiving the refunds and paying the demand is quite cumbersome and time-consuming. Board have therefore decided t....