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2017 (10) TMI 1275 - SC - Income Tax


Issues:
1. Retrospective operation of instructions/circular issued by the Central Board of Direct Taxes on 9.2.2011.

Analysis:
The Supreme Court addressed the issue of whether the instructions/circular issued by the Central Board of Direct Taxes on 9.2.2011 would have retrospective operation. In a previous case, the Court had ruled that the said instructions were not retrospective and would only apply to cases filed after 2011. The respondents in the present case relied on a circular from December 2015, but the Court held that the Central Board of Direct Taxes cannot issue a circular with retrospective operation. Therefore, the Court allowed the Appeals, set aside the High Court's order from 2.11.2011, and remitted the matter(s) back to the High Court for re-adjudication based on merit and in accordance with the law. The Civil Appeals were allowed accordingly.

 

 

 

 

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