| COURT: | Supreme Court |
| CORAM: | Uday Umesh Lalit J, Vineet Saran J |
| SECTION(S): | 143(1), 143(2), 241A |
| GENRE: | Domestic Tax |
| CATCH WORDS: | Refund |
| COUNSEL: | J.D. Mistri, Zoheb Hossain |
| DATE: | April 29, 2020 (Date of pronouncement) |
| DATE: | April 30, 2020 (Date of publication) |
| AY: | 2017-18 |
CITATION:
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Grant of refund u/s 143(1): Till 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. From AY 2017-18 & onwards, a different regime is prescribed by Parliament. S. 241-A requires separate recording of satisfaction on part of the AO that having regard to the issue of notice u/s 143(2), the grant of refund is likely to adversely affect the revenue. The withholding of refund requires the previous approval of the PCIT with reasons to be recorded in writing.
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