Circular No. 589-Income tax -
Circular No. 589-Income tax 1. Reference is invited to Board’s Circular No. 530 [F. No. 404/82/88-ITCC], dated March 6, 1989 regarding the above-mentioned subject.
2. According to paragraph 2 of the said Circular, the Assessing Officer is, in the two situations referred to in that paragraph, bound to treat the assessee as not in defaul...