Friday, March 27, 2020

No reversal of roles twixt the section and explanation

It is fairly clear that the Income Tax Rules, CBDT Circulars, Notifications etc, are not at par with an “Explanation” appended to a section, in the sense that these are instances of delegated legislation initiated by the executives not sanctioned by the legislature, though they essentially need to correspond to the mandate of the section with reference to which these have been promulgated.

from taxmann.com News https://ift.tt/33TdCUu

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