https://www.taxtmi.com/caselaws?id=17846 The court directed a fresh assessment for the year 1972-73, disregarding Circular No. 146 dated September 26, 1974, in light of Supreme Court rulings on gratuity provisions. The Circular conflicted with established law and was deemed ineffective for that assessment year. Subsequent assessments were to follow the law under section 40A(7) as per Supreme Court precedents. The judgment emphasized adherence to judicial precedents and statutory provisions in tax assessments, ensuring consistency with legal principles. The Chief Justice concurred with the decision, highlighting the importance of following Supreme Court decisions in tax matters. en-us Fri, 17 Jan 1997 00:00:00 +0530 Fri, 25 Sep 2009 11:55:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17846 The court directed a fresh assessment for the year 1972-73, disregarding Circular No. 146 dated September 26, 1974, in light of Supreme Court rulings on gratuity provisions. The Circular conflicted with established law and was deemed ineffective for that assessment year. Subsequent assessments were to follow the law under section 40A(7) as per Supreme Court precedents. The judgment emphasized adherence to judicial precedents and statutory provisions in tax assessments, ensuring consistency with legal principles. The Chief Justice concurred with the decision, highlighting the importance of following Supreme Court decisions in tax matters. Case-Laws Income Tax Fri, 17 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17846