Income Tax - Refunds Up to Rs. 5000 in Non-CASS Cases - CBDT directs Expeditious Disposal
WITH a view to provide relief to small taxpayers, CBDT has decided that refunds up to Rs.5,000/-, as also refunds in cases where arrear demand is up to Rs.5,000/-, in non-CASS cases, may be issued expeditiously without any adjustment of outstanding demand.
The refund pendency data has revealed that there are a large number of pending claims of refunds upto Rs. 5,000/- involving non-CASS cases for Assessment Years 2013-14, 2014-15 and 2015-16.
Board wants the Assessing Officers to issue refunds expeditiously in such cases without making any adjustment of arrear demands under Section 245. Similarly, the non-CASS cases for these assessment years where refund claim is more than Rs.5,000/- but the outstanding demand is Rs.5,000/- or less, may also be processed for expeditious issue of refund without making any adjustment under Section 245.
Board finds that there are several refund claims in respect of which notices have been issued proposing adjustment of outstanding demand under Section 245, but no response has been received from the taxpayer even after expiry of 60 days, as against the stipulated period of 30 days.
Board directs that such cases be treated as though the taxpayer had "no-objection" to the proposed adjustment and accordingly returns may be processed expeditiously and balance refund be issued to the taxpayer, if any, after adjustment of outstanding demand along with applicable interest.
Board wants this exercise to be completed and a compliance report sent to the Board by 29th July, 2016
CASS = Computer Assisted Scrutiny Selection
CBDT Office Memorandum in F. No.312/67/2016-OT., Dated: July 14, 2016