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TMI BlogMistake in circular about pension Scheme need immediate rectification to avoid confusions and litigation.X X X X Extracts X X X X X X X X Extracts X X X X ..... Mistake in circular about pension Scheme need immediate rectification to avoid confusions and litigation. X X X X Extracts X X X X X X X X Extracts X X X X ..... s of CBDT are binding on Income-tax authorities. Circular should be in accordance with the provision of the Act. A circular which is contrary to the provisions of the act is not valid to the extent it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is not in accordance with the provisions. Circular on Section 80CCD vide file no. F.No. 275/192/2009-IT(B) Dated the 9th February, 2010. In this circular the Board has issued clarifications about ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deduction u/s 80CCD read with other provisions. It seems that there is some inconsistencies in circular itself and the paragraph 4 of the circular contains a mistake which is contrary to paragraph 2 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f circular and sub-section (2) of section 80CCD. Mistake can cause litigation and hardship on assessee: The mistake is in fact in nature of typographical mistake or inadvertent mistake. However, wor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dings used are such that the revenue authorities are bound by the same. Therefore, it appears that unless the Circular is rectified, the mistake may cause un-necessary disallowances and assessee to pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efer appeals and to indulge in litigation.
The circular is reproduced below with highlights of relevant portions: X X X X Extracts X X X X X X X X Extracts X X X X
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