Refund of tax paid on original assessment becomes due on date when Commissioner passes order u/s 263.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... or sets aside an assessment order u/s 263 and directs the framing of a fresh assessment, refund of tax paid on the original assessment becomes due on the date when the Commissioner passes the order u/s 263. 2. The Board have been advised that an order of the Commissioner u/s 263 is an integral order and effect has to be given to both the parts of the order, i.e. cancellation of the assessment a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... essment can be made in such cases within 2 years from the end of the financial year in which the order u/s 263 is passed by the Commissioner of Income-tax. However, the Board desire that where assessments are cancelled or set aside u/s 263 to be made afresh, the fresh assessments should be completed expeditiously. Commissioners are requested to keep a watch over the completion of such assessments. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X