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Clarifications of Board's Instruction No. 885.
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....e queries raised are serially answered as under:- Query No. 1- Whether the assessments already completed following the decision of the Madras High Court in the case of Carborundum & Co. should be revised in the light of the Board's Instruction No. 885 dated 27-9-1975? Reply- Even though the course of revising the assessments already completed in the light of the Board's Instruction No. 885 dated....
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....contingency, we shall be having the benefit of another judgment from a different High Court. Query No.3- Whether the pending assessments should be completed following the Board's Instruction No. 885. Reply- Till the judgment of the Supreme Court in the case of Carborundum & Co. is received, the existing practice may be continued (i.e. Instruction No. 885 should be followed). The Department has r....