CBDT CIRCULARS

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CBDT circulars are only meant to clarify existing positions of law and not to propose new interpretations of the provisions of the Income Tax Act. But this circular does. In addition, given the fact that this circular contradicts ...
The Bill has dispensed with the provisions relating to publication of all internal orders, instructions, directions and circulars issued by CBDT in a tax bulletin or on the intranet of the I-T department. Another controversial proposal ...
Since such income was already taxed in the hands of SIPL in the terms of CBDT Circular no. 23, nothing further remained to be taxed. The Tribunal followed the decision of the Mumbai High Court in the case of SET Satellite (Singapore) Pte. Ltd. v. DCIT 307 ITR 205 (Mum), ... Ø The second important observation is the affirmation that the withdrawal of circulars is prospective and the assessee can continue to rely on such circulars for the period prior to their withdrawal. ...

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