Refunds/adjustment of the amount due under other Tax Credit Certificate Schemes. - Income Tax - 900/CBDT

INSTRUCTION NO. 900/CBDT Dated : November 26, 1975 It has been brought to the notice of the Board that Income-tax Officers insist on the production of a duplicate certificate under paragraph 15 of the Tax Credit Certificate (Exports) Scheme, 1965 even in cases where the tax credit certificate has been produced by the assessee before the Income-tax Officer, but the same is lost or misplaced in the Income-tax Office. 2. Paragraph 15 of the Tax Credit Certificate (Exports) Scheme, 1965 relating to issue of duplicate certificate is intended to apply in cases where the loss or destruction of the certificate is attributable to the assessee and not in cases where the certificate is duly produced by the assessee before the Income-tax Officer but the same is subsequently lost in the Income-tax Office. Hence, in cases where the assessee has duly produced the tax credit certificate before the Income-tax Officer, the Income-tax Officer should proceed to adjust, or, as the case may be, refund the amount due to the assessee, instead of calling upon him to produce a duplicate certificate. In such cases, Income-tax Officers will, no doubt, have to take care that the adjustment or, as the case may be, refund is allowed only in respect of the correct amount and that no credit or refund has been or is given on the original certificate. 3. The above instructions will likewise apply in relation to the refunds/adjustment of the amount due under other Tax Credit Certificate Schemes. 4. These instructions may please be brought to the notice of the officers working in your charge.