Addition based on circular made effective on later date not unsustainable in law

Abbott India Limited Vs ACIT (Bombay High Court)

Bombay High Court held that Circular No.5/2012 dated 1 August 2012 will not be applicable to the instant case pertaining to AY 2008-09. Law to be applied is the one that is in force in the relevant assessment year, unless otherwise provided expressly or by necessary implication. Accordingly, addition unsustainable.

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