Please Help: DT DTC

Dear Vikas,

The case laws pronounced under the Income Tax Act, 1961 (i.e. proposition which is laid down down under the erstwhile act) will hold good under DTC also, IF THE LANGUAGE OF THE SECTION USED IN DTC IS SAME AS USED UNDER INCOME TAX ACT, 1961. Further, if any word is not defined under the proposed DTC Act but is defined/interpreted under the Income Tax Act, 1961, then in such case the definition/interpretation of the erstwhile ACT can be applied. Further, there is always a saving clause under the proposed which saves the provision to the extent it is not contradictory to the provisions of the proposed ACT (i.e. new ACT).

It may be noted that even today under the Income Tax Act, 1961, judgments pronounced under the Income Tax Act, 1922 are also referred if any proposition is already laid under the said Act.

Therefore, case law of income tax will continue to exist when DTC will be introduced.

thanks ashish
and i m very grateful to u for the answer

I really appreciate the way in which Mr. ashish has answered this question in detail.

I agree with above answer.