WebFeb 13, 2015 · Circulars are not only binding on the tax department but quite apart from their binding character, they are clearly in the nature of contemporaneous exposition furnishing legitim...the CBDT are, as we shall presently point out, binding on the tax department in administering or executing the provision enacted in sub-s. (2), but quite … WebMar 7, 2024 · In an assessee-friendly ruling, the Karnataka High Court has held that the Assessing Officer cannot take advantage of the ignorance on the part of the assessee to collect more tax amount than is legitimately due relying on a circular issued by the Central Board of Direct Taxes (CBDT).
Section 292BB doesn’t cure complete absence of notice it cures …
Web1 hour ago · Interestingly, “the court categorically held that failure to generate and allocate DIN in this case is not a mistake curable under Section 292B and stated that circular no. 19/2024 is binding on ... WebDepartmental clarifications are also not binding on the assessee. These judicial bodies as well as the assessee can take a view different from that taken in the Board Circular. Since Board Circulars are for the purpose of administration, it cannot be binding on an officer who is exercising quasi-judicial function as is seen from proviso to ... iogear gcs24u
Binding Nature of Circulars - Position in GST regime - CAclubindia
WebDec 17, 2024 · Usually, Circular are binding on the departmental officers. They have to act based on the circulars. But they are not binding on people. For example – If the CBDT issues a Circular, the tax department has to follow them. The taxpayer can follow if it is to his advantage. If it is against the taxpayers wishes, he needn’t follow them. WebJan 22, 2024 · From the above circular of CBDT, it is abundantly clear that assessing officer would not take up the assessee`s case for ‘Complete Scrutiny’ without duly recording the reasons for expanding the scope of ‘Limited Scrutiny’, which the … Web4. Circulars and Notifications are binding on the A. Central Board of Direct Taxes (CBDT) B. Assessee C. Income Tax Appellate Tribunal (ITAT) D. Income Tax Authorities 5. … iogear gcs52dp