Safeguards and controls over large refunds.

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Full Text of the Document

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.... over Rs. 5 lakhs in metropolitan cities of Bombay, Calcutta, Delhi, Madras and Ahmedabad and over Rs. 1 lakh in all other places would be issued only after prior approval of the Commissioner of Income-tax. 2. Before according approval, the Commissioner of Income-tax will, inter alia, specifically look into the following aspects:- i) that there are proper and justifiable reasons for the huge....