What does it mean by the statement that it circulars are not binding on the appellate authorities, tribunals or assessees... Is it only a guidance for it department alone... Kindly elaborate?
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Circulars of IT not binding on Appellate Authorities, Tribunal or taxpayers
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You can say, It's Guidance for use (i.e taxpayers) and binding on department.
Means Tax payers can challenge the circular in a court of law...
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