https://www.taxtmi.com/caselaws?id=59113 Section 44B introduced a special and overriding code for computing profits of non-resident shipping businesses, and it applied uniformly to all such assessees. An earlier administrative circular permitting a different method for British shipping companies could not survive once it became inconsistent with the later statutory scheme, because a circular binds the department only while it accords with the Act. The later circular of 23-6-1975 also reflected that the new regime had superseded the earlier instructions. Section 297(2)(a) did not preserve the old circular beyond the point of inconsistency. The assessee's profits were therefore required to be computed under section 44B. en-us Mon, 21 May 1984 00:00:00 +0530 Sat, 25 Dec 2010 11:15:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59113 Section 44B introduced a special and overriding code for computing profits of non-resident shipping businesses, and it applied uniformly to all such assessees. An earlier administrative circular permitting a different method for British shipping companies could not survive once it became inconsistent with the later statutory scheme, because a circular binds the department only while it accords with the Act. The later circular of 23-6-1975 also reflected that the new regime had superseded the earlier instructions. Section 297(2)(a) did not preserve the old circular beyond the point of inconsistency. The assessee's profits were therefore required to be computed under section 44B. Case-Laws Income Tax Mon, 21 May 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59113