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1970

Circulars of 1970

Every circular the Income Tax Department published in 1970 — 15 of them, newest first. Each one opens on its own page.

NumberDateWhat it deals with
Circular No. 5230 December 1970164. Capital gain arising to charitable trust - Whether it could be regarded as having been applied to charitable purposes if trust invests amount received from sale of capital asset in acqu
Circular No. 5123 December 1970177. Whether provisions of section 13(2)(h), providing for forfeiture of exemption, apply with reference to shares in company initially settled on trust or donated to it subsequently
Circular No. 4916 November 1970Section 288B l Rounding OFF of TAX
Circular No. 487 November 1970Supplier drawing hundi on buyer and routing it through his banker with instructions to charge interest on amount of hundi from date of acceptance to date of actual payment - Whether tax is d
Circular No. 4721 September 1970Provision for estimated service gratuity payable to its employees -Deduction under section 37(1) and section 40A(7) after its insertion by the Finance Act, 1975, with effect from 1-4-1973
Circular No. 4614 September 197064. Expressions "salary" and "year" as used in clause (10) as it stood prior to its substitution by Finance Act, 1974 - Interpretation of
Circular No. 452 September 1970Finance Act, 1970 - Circular No. 45, Dated 2-9-1970
Circular No. 444 August 1970Deductions under clause (i) as it stood prior to its substitution, and under clauses (iii) to (v) as they stood prior to their omission, by Finance Act, 1974 with effect from 1-4-1975 - Clar
Circular No. 4220 June 19701072. Banks exempted from deducting tax at source from interest paid on deposits under clause (vii) of sub-section (3) from 1-4-1970 - Whether tax already deducted and paid into Government a
Circular No. 4320 June 19701159. Whether non-deduction of tax is only in respect of interest credited to Non-resident (External) Account and not to all types of non-resident accounts
Circular No. 4011 May 1970Development rebate allowed on assets sold to Government - Whether not liable to be withdrawn even if vendor credits to profit and loss account reserve which he had originally created
Circular No. 39, dated 13-4-197013 April 1970Dated 13 4 1970 circular no. 39 dated 13 4 1970
Circular No. 3625 March 1970Financial Year 1970-71
Circular No. 3524 March 1970Financial Year 1970-71
Circular No. 345 March 1970Section 40A l Expenses or Payments NOT Deductible
A circular binds the department, not you and not a court. The Board issues a circular to its own officers. An assessee may hold the department to a circular that helps him; the department cannot hold an assessee to one that hurts him, and the Tribunal and the courts decide the law for themselves.