https://www.taxtmi.com/caselaws?id=404271 The Court allowed the petitioner, a banking company, to seek a refund from the Central Board of Direct Taxes without limitations, emphasizing fairness and reasonableness in tax matters. The Court held that the circular issued by the tax authorities is binding but not on the constitutional court, asserting its authority to interpret tax laws independently. The petitioner was directed to approach the Central Board of Direct Taxes for resolution, subject to the outcome of pending departmental appeals, with no interest payable by the department in this instance. en-us Mon, 15 Feb 2021 00:00:00 +0530 Tue, 27 Apr 2021 10:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404271 The Court allowed the petitioner, a banking company, to seek a refund from the Central Board of Direct Taxes without limitations, emphasizing fairness and reasonableness in tax matters. The Court held that the circular issued by the tax authorities is binding but not on the constitutional court, asserting its authority to interpret tax laws independently. The petitioner was directed to approach the Central Board of Direct Taxes for resolution, subject to the outcome of pending departmental appeals, with no interest payable by the department in this instance. Case-Laws Income Tax Mon, 15 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404271