https://www.taxtmi.com/caselaws?id=16747 The court upheld the application of Circular No. 737 issued on February 23, 1996, during the assessment process, rejecting the petitioner's argument that it could not be applied retrospectively. The judgment emphasized that as Circular No. 737 was in force at the time of assessment, it was not considered retrospective. The court noted that Circular No. 684 was deemed contrary to the Income-tax Act and, therefore, not binding. The petitioner was advised to appeal to the competent authority for any further grievances. Ultimately, the writ petition was dismissed based on the timing and applicability of the circulars involved. en-us Fri, 11 Apr 1997 00:00:00 +0530 Wed, 09 Sep 2009 17:33:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16747 The court upheld the application of Circular No. 737 issued on February 23, 1996, during the assessment process, rejecting the petitioner's argument that it could not be applied retrospectively. The judgment emphasized that as Circular No. 737 was in force at the time of assessment, it was not considered retrospective. The court noted that Circular No. 684 was deemed contrary to the Income-tax Act and, therefore, not binding. The petitioner was advised to appeal to the competent authority for any further grievances. Ultimately, the writ petition was dismissed based on the timing and applicability of the circulars involved. Case-Laws Income Tax Fri, 11 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16747