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2002 (7) TMI 30 - HC - Income TaxTDS - Contractor - The above batch of writ appeals have been filed questioning the orders of the learned single judge, in striking down Circular No. 681, dated March 8, 1994, issued by the Central Board of Direct Taxes on the ground of it being ultra vires section 194C of the Income-tax Act, 1961 - The argument that inasmuch as the Finance Act, 1995, was enacted authorising the deduction even for mere transportation of goods, and as such, the circular is deemed to have been ratified by Parliament is also liable to be rejected, for the reason that the said Finance Act, 1995, which came into effect from July 1, 1995, is only prospective in operation and not retrospective. It is also clear from the judgment of the Supreme Court, cited supra. In view of the above, all the writ appeals are dismissed
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