Withholding of refund against demand payable for earlier years justified

Vodafone Idea Ltd Vs  ACIT (Supreme Court)

Conclusion: Uptill AY 2016-17, if a scrutiny notice u/s 143(2) is issued, the return is not required to be processed u/s 143(1) for grant of refund to the assessee however, from AY 2017-18 & onwards, a different regime is prescribed by Parliament by inserting  section 241-A which required separate recording of satisfaction on part of AO that having regard to the issue of notice u/s 143(2), the grant of refund was likely to adversely affect the rev

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