Section 435 — Refund on appeal, etc.
Old Act equivalent: Section 240 of IT Act 1961 Sub-part: Chapter XX—Refunds
Statutory Text
- (1) Where, as a result of any order passed in appeal or other proceeding under this Act, refund of any amount becomes due to the assessee, the As sessing Officer shall, except as otherwise provided in this Act, refund the amount to the assessee without his having to make any claim in that behalf. (2) Where, by the order as referred to in sub-section (1),—
(a) an assessment is set aside or cancelled and an order of fresh assessment is directed to be made, the refund, if any, shall become due only on the making of such fresh assessment;
(b) the assessment is annulled, the refund shall become due only of the amount, if any, of the tax paid in excess of the tax chargeable on the total income returned by the assessee. Correctness of assessment not to be questioned.
Provisos
None.
Explanations
None.
Tables
None.
Key Structure
- Applies to: Any person entitled to refund as a consequence of any order on appeal, revision, or rectification.
- Conditions: Appellate/revision/rectification order results in reduction of tax; refund of excess automatically.
- Time limits: Refund to be granted without claim being necessary.
- Monetary limits: Amount by which tax is reduced.
- Exceptions: None.
Cross-References
None identified.
Amendment Notes
None noted from the extracted pages.