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| The Tax Publishers2020 TaxPub(DT) 2495 (Del-HC) INCOME TAX ACT, 1961
Section 244
Where assessee, contended that no refund was issued of the amount seized during the search proceedings along with interest notice was issued to Ministry of Finance, Government of India considering situation that no refund voucher issued by Income Tax Department was being honoured by banks as RBI had suspended P2F session activities due to Corona outbreak.
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Refund - Amount seized during search proceedings - Refund voucher of revenue department not honoured by banks -
Issue was as regards refund of the amount seized during the search proceedings along with interest. Held: It was found that refund voucher for interest amount given by competent authority at pain of contempt, was returned unpaid by SBI with reason, 'paper not received' i.e., refund voucher to be presented physically for clearing. It was common ground that said activity was to be done in P2F session, but RBI has suspended said session from 23rd March, 2020 due to Corona outbreak. No refund voucher issued by Income Tax Department was being honoured by banks. This is a serious matter as one of ways Government of India plans to revive economy during the present COVID-19 crisis is by issuing tax refunds forthwith. Notice was issued to Ministry of Finance, Government of India through counsel for UOI and RBI.
REFERRED :
FAVOUR : Notice issued.
A.Y. :
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