Power to withhold refund in certain cases

(1) Where an order giving rise to a refund is the subject-matter of an appeal or further proceeding or where any other proceeding under this Act is pending, and the authority competent to grant such refund is of the opinion that the grant of the refund is likely to adversely affect the revenue, such authority may, with the previous approval of the Commissioner, withhold the refund till such time as the Commissioner may determine. (2) Where a refund is withheld under sub-section (1), the Gm emment shall pay interest in accordance with the provisions of section 24 On the amount of refund ultimately determined to be due to the person as a result of the appeal or further proceeding, for the period from the date immediately following the expiry of ninety days from the date of the order referred to in sub-section (1) to the date of refund. 26. Remission of tax The Commissioner may, in such circumstances and . subject to such conditions as may be prescribed, remit the whole or any part of the tax payable, in respect of any period, by any '[proprietor]: PROVIDED that, if the amount to be remitted exceeds two thousand rupees, the remission of the excess shall not be made without the previous sanction of the