Set off of refunds against tax remaining
payable.
47245. Where under any of
the provisions of this Act, a refund is found 48 to be due to any person,
the 49[Assessing] Officer, 50[Deputy Commissioner
(Appeals)] 51[, Commissioner (Appeals)]
or 52[Chief Commissioner or
Commissioner], as the case may be, may, in lieu of payment 53 of the refund, set off the
amount to be refunded or any part of that amount, against the sum, if any,
remaining payable under this Act by the person to whom the refund is due, after
giving an intimation in writing to such person of the action proposed to be
taken under this section.
