2015 (7) TMI 1200

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..... 87 - BOMBAY HIGH COURT ] - Income Tax Reference No. 214 of 1996 - - - Dated:- 24-7-2015 - M. S. Sanklecha And N. M. Jamdar, JJ. For the Applicant : Suresh Kumar For the Respondent : -- ORDER This reference under Section 256(1) of the Income Tax Act, 1961 for the Assessment Year 1985-86 seeks our opinion on the following question of law- Whether, on the facts and in the c .....

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..... 4. Therefore, in view of the Instruction No.5 dated 10 July 2014 read with decision of this Court in Commissioner of Income Tax Vs Madhukar Inamdar (HUF) 318 ITR 149; Commissioner of Income Tax Vs Pithwa Engineering Works 276 ITR page 598 and Commissioner of Income Tax Vs Vijaya Kawekar 380 ITR 237 (dealing with earlier Circulars/Instructions) the instructions of 2014 iss .....

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..... me policy for old matters needs to be adopted by the department, so as to achieve the object of the policy laid down by the Central Board of Direct Taxes. 6. Nothing has been shown to us to indicate that the issue raised in this particular reference would fall within the exclusion clause of the 2014 Circular nor that the issue has a cascading effect or would otherwise be covered by the Apex .....

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