Procedure for issue of large refunds.

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.... refunds over Rs. 5 lakhs in the metropolitan cities of Bombay, Calcutta, Madras, Delhi and Ahmedabad and over Rs. 1 lakh in all other places. This was to ensure that proper safeguards and controls are exercised over the issue of large refunds. 2. These instructions have been reviewed by the Board taking into account certain difficulties brought to its notice by some Chief Commissioners and Com....

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....e shall ensure that all prima facie adjustments have been made. 3. Where the amount of refund payable, after all the steps mentioned above are taken, exceeds Rs. 1 lakh in company cases and Rs. 25,000 in other cases, The Assessing Officer (not being a Deputy Commissioner) shall refer the case to the Deputy Commissioner concerned after recording his satisfaction for issue of refund. As regards s....