U/s 245 of Income Tax Act 1961 revised timeline for verification of arrear of demand

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.... arrear demand under section 245 of the income-tax Act, 1961. Reference is invited to Office Memorandum of even number dated 29-1-2016 vide which the procedure to be followed in cases where notice under section 245 has been issued for returns to be processed during FY 2015-16 was specified by the Board. It was prescribed in the O.M. under reference that- (a)    In cases ....

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....st the demand and issue the balance refund, if any, to the taxpayer. 2. In  view of the large volume of pending refunds which arc subject to proceedings under section 245 and the timeline of 30 days for responding to the notice allowed to the assessee and the same time period allowed to the Assessing Officer to confirm/correct the demand, it is taking too long for the demand to be verified....