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SC: CBDT Circulars do not Bind Courts in Income Tax Matters - (21 Sep 2026)

DIRECT TAXATION

Supreme Court has reiterated that CBDT circulars are not binding on courts while dismissing appeals by assessees seeking Section 80HHC deductions on premiums earned from the sale of export quotas. The deduction ceased to apply from April 1, 2005.

Tags : INCOME TAX; EXPORT; CIRCULARS  

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