Safeguarding the interest of revenue. - Income Tax - 5001/1990

INSTRUCTION NO. 5001/1990 Dated: May 31, 1990 I am directed to refer to the letter F. NO. Hqrs. II/Clarifications/88-89 dated 11-7-1989 from CIT, AP-II on the subject mentioned above and to state as under: (a) Immediate steps are being taken for expediting the hearing of stay application filed against A.P. High Court judgment. (b) All such cases may be converted into scrutiny cases by issue of notices u/s.143(2). The scrutiny assessments may be kept pending till such time the Supreme Court hears the stay application. (c) Refunds u/s.143(1)(a)(ii) may not be granted in such cases. If necessary, these may be withheld under the provisions of Section 241 inserted w.e.f. 1-4-1989 by the Direct Tax Laws (2nd Amendment) Act, 1989. A detailed report on the actions taken so far to safeguard the interest of Revenue may be sent to the Board early. Necessary instructions may be issued to ensure that the actions as suggested above are taken immediately. F. No. 133/409/89-TPL