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2012 (5) TMI 187 - ALLAHABAD HIGH COURTClaim of exemption denied in view of Section 10-A subsection (9) and (9A) - as the assessee was earlier a proprietorship concern, but converted into a partnership firm during the previous year – Held that:- Sub-sections (9) and (9-A) were no longer in existence w.e.f. 1/4/2004 i.e. for assessment year 2004-2005 and there is no other provision for disallowance of benefit to assessee under section 10-A - the Board's Circular No.7/2003 dated 05/9/2003 mentions that benefit is attached to the undertaking and not to owner thereof - It is an acknowledged legal position that beneficial circular issued by CBDT is binding on the department – in favour of assessee.
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