https://www.taxtmi.com/caselaws?id=392215 The Court declared the challenged circular as irrelevant and ultra vires Sections 10(A) and 10(B) of the Income Tax Act. Assessing Officers were directed to conduct assessments in line with the Supreme Court's decision in Commissioner of Income Tax Vs Yokogawa India Limited, 2017 2 SCC 1. The Writ Petition was allowed with observations, and no costs were awarded, emphasizing judicial decisions' precedence over circulars in interpreting and applying tax laws. en-us Tue, 28 Jan 2020 00:00:00 +0530 Sat, 15 Feb 2020 13:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392215 The Court declared the challenged circular as irrelevant and ultra vires Sections 10(A) and 10(B) of the Income Tax Act. Assessing Officers were directed to conduct assessments in line with the Supreme Court's decision in Commissioner of Income Tax Vs Yokogawa India Limited, 2017 2 SCC 1. The Writ Petition was allowed with observations, and no costs were awarded, emphasizing judicial decisions' precedence over circulars in interpreting and applying tax laws. Case-Laws Income Tax Tue, 28 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392215