Order under section 119(2)(b) of the Income-tax Act, 1961-Condonation of delay in filing refund claims-Authorisation to the Income-tax Officers - Income Tax - 503/1988

Order under section 119(2)(b) of the Income-tax Act, 1961-Condonation of delay in filing refund claims-Authorisation to the Income-tax Officers Circular No. 503 Dated 6/2/1988 To All Chief Commissioners. Sir, Subject: Order under section 119(2)(b) of the Income-tax Act, 1961-Condonation of delay in filing refund claims-Authorisation to the Income-tax Officers. Attention is invited to Board's order under section 119(2)(b) of the Income-tax Act, 1961 (F. No. 225/201/87/ITA. II) dated 5th February, 1988, whereby the Board, in exercise of the powers conferred by clause (b) of sub-section (2) of section 119 of the Income-tax Act, 1961, have raised the monetary limit of cases in which the Income-tax Officer is authorised to admit belated refund claims under section 237 of the Income-tax Act, 1961. 2. With a view to avoid hardship to the taxpayers, Income-tax Officers have now been authorised to admit belated refund claims in respect of amounts up to Rs. 10,000 provided the conditions laid down in the said order are fulfilled. These conditions are as follows: (i) the refund arising as a result of tax deducted at source in respect of assessment year under the provisions of sections 192, 193, 194, 194A, 194B, 194C, 194D and 195 does not exceeds Rs. 10,000; (ii) the returned income is not a loss where the assessee claims the benefit of carry forward of the loss; (iii) the refund claimed is not supplementary in nature, i.e., a claim for additional amount of refund after the completion of the original assessment for the same assessment year; and (iv) the income of the assessee is not assessable in the hands of any other person under any provisions of the Act. 3. This order will be effective from 10-2-1988. 4. Hindi version will follow shortly. Yours faithfully, (Sd.) R.C. Shan Sahay, Under Secretary, Central Board of Direct Taxes.