Interpretation of 'issue' under Wealth-tax Act clarifies prior inconsistent instruction is withdrawn and earlier guidance unaffected. The Board rescinds its October 1974 Instruction that declined to accept the Allahabad High Court view on the meaning of the word 'issue' in section 18(2A) of the Wealth-tax Act, concluding that the High Court position should have been accepted; this withdrawal does not affect prior clarifications issued in the Board's 1969 letter and its subsequent amendment.
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Provisions expressly mentioned in the judgment/order text.
Interpretation of 'issue' under Wealth-tax Act clarifies prior inconsistent instruction is withdrawn and earlier guidance unaffected.
The Board rescinds its October 1974 Instruction that declined to accept the Allahabad High Court view on the meaning of the word "issue" in section 18(2A) of the Wealth-tax Act, concluding that the High Court position should have been accepted; this withdrawal does not affect prior clarifications issued in the Board's 1969 letter and its subsequent amendment.
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