(1) The refund voucher except in the case referred to in sub- rule (2) of this rule shall ordinarily be issued alongwith the notice of demand if the refund is due in pursuance of the order of assessment, re-assessment or rectification made by the Assessing Authority or within 15 days from the date of receipt of the order passed under Section 72, Section 73 or Section 74 or an order of the Court.

(2) If the amount of refund except the refund due in pursuance of an order under Section 72, Section 73 or Section 74 or an order of the Court is Rs. 50,000/- or more the Assessing Authority shall obtain the prior approval of the Commissioner before it is granted. The proposal for obtaining the approval alongwith the relevant records shall ordinarily be submitted to the Commissioner within ten days of the issue of notice of demand or the receipt of the order of a Court.

(3) The Commissioner may delegate the powers under sub-rule (2) of this rule to the Dy. Commissioner Commercial Taxes of the Division for a period specified by him.