https://www.taxtmi.com/caselaws?id=66690 The Tribunal held that the CIT's order under section 263 was not justified as the Assessing Officer's order was in compliance with CBDT Circular No. 762, exempting power companies from MAT. Emphasizing the binding nature of CBDT circulars, the Tribunal cancelled the CIT's order and the subsequent assessment order, allowing the assessee's appeals. en-us Mon, 05 Apr 2004 00:00:00 +0530 Sat, 05 Mar 2011 17:06:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66690 The Tribunal held that the CIT's order under section 263 was not justified as the Assessing Officer's order was in compliance with CBDT Circular No. 762, exempting power companies from MAT. Emphasizing the binding nature of CBDT circulars, the Tribunal cancelled the CIT's order and the subsequent assessment order, allowing the assessee's appeals. Case-Laws Income Tax Mon, 05 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66690