Government securities become refundable in cases of invalid declaration.

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....r after 1.1.1976 cannot be treated as having been made to the Commissioner before 1.1.1976, and as such, such declarations do not fall within the ambit of the aforesaid Act, and are to be treated as invalid. The amount of tax paid/amount invested in notified Government securities became refundable in such cases. 2. The Board have examined the procedure to be followed for issue of refunds in such ....