https://www.taxtmi.com/caselaws?id=391084 The Revenue filed a tax appeal under Section 260A of the Income Tax Act, 1961, challenging the disallowance of Amortized Premium amounting to Rs. 3,15,81,243 for A.Y 2014-15. The Court, relying on precedent and RBI directives, upheld the Income Tax Appellate Tribunal's decision to allow the amortization in accordance with CBDT Circular No.17 of 2008. As there were no conflicting instructions, the Court concluded that the Revenue was bound by the CBDT Circular and dismissed the appeal. en-us Mon, 06 Jan 2020 00:00:00 +0530 Sat, 18 Jan 2020 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391084 The Revenue filed a tax appeal under Section 260A of the Income Tax Act, 1961, challenging the disallowance of Amortized Premium amounting to Rs. 3,15,81,243 for A.Y 2014-15. The Court, relying on precedent and RBI directives, upheld the Income Tax Appellate Tribunal's decision to allow the amortization in accordance with CBDT Circular No.17 of 2008. As there were no conflicting instructions, the Court concluded that the Revenue was bound by the CBDT Circular and dismissed the appeal. Case-Laws Income Tax Mon, 06 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391084