Income Tax : The framework clarifies that refunds can be claimed only through valid ITR filing and mandatory verification. It emphasizes proced...
Income Tax : The new Act continues the existing tax payment framework without altering compliance obligations. It simplifies presentation while...
Income Tax : Learn why refund claims are being paused under a risk-based system and how timely reconciliation or revision can ensure smooth pro...
Income Tax : Automated risk alerts are delaying income-tax refunds without clear reasons. The law allows withholding only through statutory pro...
Income Tax : Learn why the Income Tax Department is sending risk management SMS alerts and how they differ from scrutiny notices. This guide ex...
Income Tax : India's net direct tax collections fell by 1.34% to ₹562,827 crore by July 10, 2025, despite a 3.17% rise in gross collections, ...
Income Tax : Income Tax Department warns against wrongful refund claims in ITRs. Explains consequences like penalties, scrutiny, prosecution, a...
Income Tax : Out of 3.94 crore valid ITRs for AY 2024-25, refunds were processed for 3.68 crore. Reasons for delays include invalid bank detail...
Income Tax : The Finance Act 2023 integrates sections on refund set off and withholding into section 245 of the Income-tax Act, impacting how r...
Income Tax : Learn about the rise in tax returns filed in India, targeted campaigns encouraging filings, and steps taken by the government for ...
Income Tax : The Kerala High Court held that delay condonation applications under Section 119(2)(b) must comply with the revised five-year limi...
Income Tax : The Court held that adjusting a refund against a disputed demand during the subsistence of a stay order is illegal and arbitrary, ...
Income Tax : High Court held that adjusting the entire refund during operation of a Tribunal stay order contravened the order and required refu...
Income Tax : The Court directed the PCCIT to appoint a senior officer to re-examine a refund claim where both parties lacked decades-old record...
Income Tax : The Court directed tax authorities to release refund under Sections 240 and 244A with interest calculated up to the actual date of...
Income Tax : SOP for investigating high-risk refund cases for AY 2024-25. Clusters of suspicious ITRs identified and disseminated for verificat...
Income Tax : Insight Instruction No. 8 guides Assessing Officers in verifying high-risk refund ITRs for AY 2024-25, detailing steps for verific...
Income Tax : CBDT issues comprehensive guidelines for condonation of delay in filing returns claiming refunds or losses under Section 119(2)(b)...
Income Tax : Explore detailed guidelines & procedures for verifying high-risk refund cases using Insights investigation tool. Learn how to navi...
Income Tax : Discover how jurisdictional assessing officers verify high-risk refund cases with Insight Instruction No. 77. Learn the SOP and st...
Learn how to request for income tax refund re-issue and ensure you receive your refund without any hassle.
Recent judgement of Delhi High court in the case of Maple Logistic (P) Ltd. Has again highlighted the matter of withholding the refund of assessee without following spirit of law. When a case of assessee is selected for scrutiny, refund is withheld. It is against the law and court has taken very adverse view on […]
Important update for income tax filers: Prevalidation of bank account is now mandatory for receiving income tax refunds. Learn how to pre-validate your bank account on the income tax e-filing portal.
Universal Cables Ltd Vs CIT (Supreme Court) A ‘tax refund’ is a refund of taxes when the tax liability is less than the tax paid. As per the old section an assessee was entitled for payment of interest on the amount of taxes refunded pursuant to an order passed under the Act, including the order […]
CBI Vs. Devendra Chaturvedi (Special Court for CBI at Greater Bombay) In nutshell, it is the allegation against accused that they conspired to cheat the Income Tax Department and in collusion with each other during the relevant period accused No.1 prepared income tax returns with the assistance of accused No.2 in the name of accused […]
In view of the ratio laid down by the Hon’ble Supreme Court in the judgment supra, the interest on the delayed refund becomes part of the principle amount and the delayed interest includes the interest for not refunding the principle amount
Auto-generated communication dated 24.3.2019 which contained the note of withholding of the refund in terms of Section 241A of the Act, does not satisfy any of the legal tests for passing said order. Firstly, it is not passed by the Assessing Officer who is competent to do so. Secondly, it is not even an order, it is a mere auto-generated communication. Thirdly, it does not contain any reasons recorded in writing and lastly it is not passed with the prior approval of the Principal Commissioner or Commissioner.
With the end of ITR Filing season, now the assessee has starts receiving their claimed refund from Income Tax Department. Individuals who have filed their ITR’s before 31st August, 2019 has almost received their refunds. Because, this time, to lower the interest burden on government treasury, Income Tax department has processed refund cases on Priority basis.
Now, the ITR Filing season is almost over and assesses are receiving Intimation U/s 143 (1) of Income Tax Act, 1961 related to their filed ITR. This time focus of the Income Tax Department is on the issuance of Income Tax Refund as soon as possible. And assesses who have claimed a refund in their […]
i) The term recovery is comprehensive and includes adjustment thereby reducing the demand; (ii) It will be specious & illogical for the Revenue to contend that if an issue is decided in favour of the assessee giving rise to a refund in an earlier year, that refund can be adjusted u/s 245, on account of the demand on the same issue in a subsequent year.
