https://www.taxtmi.com/caselaws?id=10147 The High Court held that the circular issued by the Central Board of Direct Taxes regarding the allowability of ex-gratia payments under Voluntary Retirement Scheme was invalid to the extent it was adverse to the interests of the assessees. The Court emphasized that Assessing Officers should have the freedom to exercise their judgment without being bound by overriding instructions from the Board. Consequently, the Court allowed the writ petition, declared the circular invalid, and dismissed the appeal without costs. en-us Wed, 15 Dec 2004 00:00:00 +0530 Wed, 08 Jul 2009 08:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10147 The High Court held that the circular issued by the Central Board of Direct Taxes regarding the allowability of ex-gratia payments under Voluntary Retirement Scheme was invalid to the extent it was adverse to the interests of the assessees. The Court emphasized that Assessing Officers should have the freedom to exercise their judgment without being bound by overriding instructions from the Board. Consequently, the Court allowed the writ petition, declared the circular invalid, and dismissed the appeal without costs. Case-Laws Income Tax Wed, 15 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10147