Saturday, July 15, 2006


The Policy in respect of issue of refunds of large amount shall continue to be that all large refunds (Rs. 1 crore and above in the case of Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Ahmedabad and Pune and Rs. 25 lakh and above for other stations) shall be issued by the assessing officers after obtaining prior administrative approval related to issuance of refund in a particular case.
The Commissioner of Income Tax would satisfy himself that there are no high demand scrutiny assessment in that case which can be quickly completed and the refund can be appropriated towards the demand.


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