761/CBDT.

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..... first part of section 271(1)(i) means that tax payable under demand notice. In a Board's letter No. 284/4/73-IT(Inv) dated the 3rd February, 1973 you were informed that legislative action was contemplated. The Direct Taxes (Amendment) Act, 1974 has since been passed by both houses of parliament and has received the assent of the president on 18th August, 1974. Section 13 of this Act reads as unde .....

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..... (a) passed in the light of the Supreme Court decision may be reviewed and suitable action taken for rectifying them. In these cases where the Appellate Assistant Commissioner or the Tribunal have followed the Supreme Court decision, the retrospective amendment of the law may be brought to their notice with the request for reviewing their orders. - Circular - Trade Notice - Public Notice - Instru .....

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