16 August 2012
The Hon’ble Supreme Court in H.L. Dattu and Chandramauli Kr. Prasad, JJ. UNION OF INDIAVersusNITDIP TEXTILE PROCESSORS PVT. LTD.- 2011 (273) E.L.T. 321 (S.C.) held that Departmental instructions - Trade Notice - Issued by Revenue Department of any one State - It is binding on all other departments with equal force all over the country - Trade Notice guides traders and business community in relation to their business as how to regulate it in accordance with applicable laws or schemes - However, as such, it is not binding on Courts but certainly binding on assessee and they can contest it.