Mere amendment or substitution of a section not affects validity of notifications issued therein

Technimont Pvt Ltd Vs ACIT (ITAT Mumbai)

It is only elementary that merely because a section is amended or even substituted, whether by repeal of the legislation itself or by amendment in the legislation, the notifications, circulars and instructions issued therein do not cease to hold good.

Section 297(2)(k) of the Income Tax Act, 1961, specifically provides that notwithstanding the repeal of Income Tax Act, 1922, “any agreement entered into, appointment made, approval given, r

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