https://www.taxtmi.com/caselaws?id=326479 The court upheld the constitutional validity of Section 94-A(1) of the Income Tax Act, 1961, rejecting arguments that it violated various articles of the Constitution. The court also found the Notification No. 86/2013 valid as it was issued due to Cyprus not complying with the exchange of information requirements under the Double Taxation Avoidance Agreement. Additionally, the court deemed the Press Release of 1.11.2013 as non-binding and clarified that it did not carry the same legal weight as official Circulars. The challenges against all three - Section 94-A(1), the Notification, and the Press Release - were dismissed. en-us Tue, 12 Apr 2016 00:00:00 +0530 Fri, 13 May 2016 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326479 The court upheld the constitutional validity of Section 94-A(1) of the Income Tax Act, 1961, rejecting arguments that it violated various articles of the Constitution. The court also found the Notification No. 86/2013 valid as it was issued due to Cyprus not complying with the exchange of information requirements under the Double Taxation Avoidance Agreement. Additionally, the court deemed the Press Release of 1.11.2013 as non-binding and clarified that it did not carry the same legal weight as official Circulars. The challenges against all three - Section 94-A(1), the Notification, and the Press Release - were dismissed. Case-Laws Income Tax Tue, 12 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326479