Circular No. 692-Income tax Reference is invited to the Board’s Circular No. 655, dated the 26th August, 1993, regarding deduction of income-tax at source from the payment of interest on securities for the financial year 1993-94.
Circular No. 78/78/94-CX I am directed to state that the Supreme Court in their judgement dated 1.9.94 in Civil Appeal No. 3197 of 1986 with C.A. Nos. 19-22/80, 3331/84, 3464/88, 1384-85/87, 3963/90 and 2867/91 has deicded the dispute arising out of High Court”s orders and CEGAT”s orders on the scope of term “Job-work” pertaining to the Notification 119 of 75
