https://www.taxtmi.com/caselaws?id=154592 Section 8-C(2) vested discretion in the assessing authority to determine the security for use of form XXXI, so the Commissioner could not replace that statutory judgment by circular fixing a set amount. The circulars were therefore inconsistent with the provision and invalid to that extent. The earlier decision upholding the circular under the unamended law did not govern after the retrospective amendment, because the legislative change materially altered the statutory scheme and displaced the basis of that precedent. The impugned circulars were quashed, and the assessing authority remained free to act under section 8-C(2) in accordance with law. en-us Thu, 13 Dec 1984 00:00:00 +0530 Fri, 23 Aug 2013 18:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=154592 Section 8-C(2) vested discretion in the assessing authority to determine the security for use of form XXXI, so the Commissioner could not replace that statutory judgment by circular fixing a set amount. The circulars were therefore inconsistent with the provision and invalid to that extent. The earlier decision upholding the circular under the unamended law did not govern after the retrospective amendment, because the legislative change materially altered the statutory scheme and displaced the basis of that precedent. The impugned circulars were quashed, and the assessing authority remained free to act under section 8-C(2) in accordance with law. Case-Laws VAT and Sales Tax Thu, 13 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=154592