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Icds vs income tax act 1961

PRK29 (Student) (67 Points)

13 October 2018

In the exam, incase of conflict between ICDS and Income Tax act, which one would prevail ?

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Hitesh (Student) (3549 Points)
Replied 13 October 2018

In case of conflict b/w act and ICDS income tax act will prevail. However in the exam mention provision of both ICDS and IT act.

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PRK29 (Student) (67 Points)
Replied 13 October 2018

Thank you. Also, there are a few judicial precedents which differ from ICDS. So going by that logic, The judicial precedents would override the ICDS right ?

Hitesh (Student) (3549 Points)
Replied 13 October 2018

Yes as per Delhi High court decision in case of Chamber of Tax consultant ICDS which override judicial pronouncements are ultravirus. Thus judicial pronouncements will prevail over ICDS.

shashank (as an article) (951 Points)
Replied 13 October 2018

give ur......subjective answer....

PRK29 (Student) (67 Points)
Replied 13 October 2018

Did you read the note after the case law ? It says the ICDS has been amended so taxpayers have to follow ICDS. So I'm still not clear

Hitesh (Student) (3549 Points)
Replied 14 October 2018

Yes I have read and I would request if you can go through the note again. The note states that from Finance Act 2018 ICDS has got statutory backing and hence ICDS is applicable. For Nov 2018 exam finance act 2017 is applicable hence we need to follow decision given by Delhi High Court. If your attempt is Nov 2018 please follow Delhi High court decision and if your attempt is in May 19 follow ICDS.

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