Clarifications of Board's Instruction No. 885.

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....examined in consultation with the Ministry of Law. The 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 comple....

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....to grant such request, the matter may be fought out. In such a 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 ....