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The Finance (No. 2) Act, 2009 had (w.e.f. 01.04.2010) inserted section 206AA to the Income-tax Act, 1961 (“the Act”) with a view to strengthen the PAN Mechanism and also to deal with the problems created in granting tax creditsandprocessing of returns which led to delays in the issue of refunds.The Finance (No. 2) Act, 2009 had (w.e.f. 01.04.2010) inserted section 206AA to the Income-tax Act, 1961 (“the Act”) with a view to strengthen the PAN Mechanism and also to deal with the problems created in granting tax creditsandprocessing of returns which led to delays in the issue of refunds.taxmann.com Latest ArticlesRead More