https://www.taxtmi.com/caselaws?id=16928 The High Court of Orissa nullified the effect of Circular No. 737 issued by the Central Board of Direct Taxes regarding deductions on salary and interest to partners of firms under sections 44AD and 44AE of the Income-tax Act, 1961. The insertion of retrospective provisos clarified the treatment of deductions, rendering assessments based on the circular void. Assessing Officers were directed to reassess based on the amended provisions, allowing assessees to bring the changes to the attention of the authorities. The writ applications were granted, with no costs imposed. Judge S. C. Datta concurred with the decision. en-us Wed, 02 Jul 1997 00:00:00 +0530 Mon, 14 Sep 2009 11:29:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16928 The High Court of Orissa nullified the effect of Circular No. 737 issued by the Central Board of Direct Taxes regarding deductions on salary and interest to partners of firms under sections 44AD and 44AE of the Income-tax Act, 1961. The insertion of retrospective provisos clarified the treatment of deductions, rendering assessments based on the circular void. Assessing Officers were directed to reassess based on the amended provisions, allowing assessees to bring the changes to the attention of the authorities. The writ applications were granted, with no costs imposed. Judge S. C. Datta concurred with the decision. Case-Laws Income Tax Wed, 02 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16928