|CORAM:||Uday Umesh Lalit J, Vineet Saran J|
|SECTION(S):||143(1), 143(2), 241A|
|COUNSEL:||J.D. Mistri, Zoheb Hossain|
|DATE:||April 29, 2020 (Date of pronouncement)|
|DATE:||April 30, 2020 (Date of publication)|
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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.