https://www.taxtmi.com/caselaws?id=66888 The Appellate Tribunal upheld the decision of the CIT(Appeals), affirming the eligibility of a private limited company engaged in construction activities like grouting and drilling of dams for deduction under section 32AB. The Tribunal emphasized that CBDT Circulars, even if deviating from the law, are binding on Income-tax Authorities and can override the legal position if beneficial to the assessee. Therefore, the Tribunal rejected the revenue's appeal, confirming the company's eligibility for the deduction under section 32AB. en-us Fri, 20 Sep 1996 00:00:00 +0530 Mon, 07 Mar 2011 18:59:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66888 The Appellate Tribunal upheld the decision of the CIT(Appeals), affirming the eligibility of a private limited company engaged in construction activities like grouting and drilling of dams for deduction under section 32AB. The Tribunal emphasized that CBDT Circulars, even if deviating from the law, are binding on Income-tax Authorities and can override the legal position if beneficial to the assessee. Therefore, the Tribunal rejected the revenue's appeal, confirming the company's eligibility for the deduction under section 32AB. Case-Laws Income Tax Fri, 20 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66888