03 July 2008
Govt Of India Then Different Ministries( Like ministry of Finance, Ministry of Commerce, Etc)
Then Under Ministry of Finance, we have 3 Departments 1) Department of Revenue 2) Department of Expenditure 3) Department of Economic Affairs
Then under Department of Revenue, WE have Income Tax Department( CBDT) and Department of Customs and Excise ( CBEC)
So NOw about your query, Notifications are issued by central Govt(i.e. Department of Revenue) Notifications are binding on the assessee. notification has to be approved by parliement. where as Circulars are issued by CBDT and CBEC, which are binding on the assessing officers and not on assessee.
CAclubindia
