[Withholding of refund in certain cases.241A.
For every assessment year
commencing on or after the 1st day of April, 2017, where refund of any amount becomes due to the assessee
under the provisions of sub-section (1) of section 143
and the Assessing Officer
is of the opinion, having regard to the fact that a notice has been issued under sub-section (2) of section 143
in respect of such return, that the grant of the refund is likely to adversely affect the revenue, he may, for reasons to be recorded in writing and with the previous approval of the Principal Commissioner
or Commissioner, as the case may be, withhold the refund up to the date on which the assessment