Refunds under the Estate Duty Act. - Income Tax - 1278/CBDT

INSTRUCTION NO. 1278/CBDT Dated : September 22, 1979 Attention is drawn to para 3 of Instruction No.1216 issued from Board's F.No.313/5/78-ED on the above subject wherein the Board desired that refunds under the Estate Duty Act should be issued promptly and in any case not beyond the period of 3 months from the date of the order resulting in the same. 2. Instances may arise where the order giving rise to a refund is the subject matter of an appeal or further proceedings, and the Assistant Controller of Estate Duty is of the opinion that the grant of the refund is likely to adversely affect the interest of revenue. The Board desire that in such type of cases, the Assistant Controller of Estate Duty may grant the refund to the Accountable Person only after the latter has furnished security to the satisfaction of the Controller for the payment of Estate Duty which may arise as a result of the appeal order or further proceedings.