I. - Refund
Refunds
212. (1) An assessee shall be entitled to a refund of the excess of any amount paid by him or on his behalf, or treated as paid by him or on his behalf, for any financial year, over the amount with which he is liable under this Code, and such refund shall be issued in the prescribed manner.
(2) An assessee shall, in a case where an assessment is set aside or cancelled or an order of fresh assessment is directed to be made in an appeal, or any other proceeding under the Code, be entitled to the refund only on the making of the fresh assessment.
(3) The amount of refund determined under sub-section (1), or sub-section (2), shall be reduced by the amount, if any, remaining payable under this Code by the assessee to whom the refund is due, and the balance amount of refund, if any, shall be issued, alongwith an intimation to this effect to the assessee.
