https://www.taxtmi.com/caselaws?id=221432 The Court upheld the Tribunal's decision, ruling that the second proviso to Section 194H of the Income Tax Act, 1961, inserted by the Finance Act, 2007, was clarificatory and applicable to assessment years before its insertion. The Court dismissed the Revenue's appeal, emphasizing the binding nature of circulars issued by the Central Board of Direct Taxes and supporting the Tribunal's interpretation that the proviso aimed to address specific tax liabilities. The judgment provided relief to the Government of India undertaking by granting the benefit of the clarificatory amendment and affirming the Tribunal's decision. en-us Wed, 13 Feb 2013 00:00:00 +0530 Mon, 11 Mar 2013 13:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221432 The Court upheld the Tribunal's decision, ruling that the second proviso to Section 194H of the Income Tax Act, 1961, inserted by the Finance Act, 2007, was clarificatory and applicable to assessment years before its insertion. The Court dismissed the Revenue's appeal, emphasizing the binding nature of circulars issued by the Central Board of Direct Taxes and supporting the Tribunal's interpretation that the proviso aimed to address specific tax liabilities. The judgment provided relief to the Government of India undertaking by granting the benefit of the clarificatory amendment and affirming the Tribunal's decision. Case-Laws Income Tax Wed, 13 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221432