Practical Knowledge With CAAJ

The High Court of Delhi held that the Income Tax Department neither can demand withheld tax  The High Court of Delhi held that the Income Tax Department neither can demand withheld tax from the assessee that has not been deposited by the deductor/employer in the Central Government Account, nor can it adjust against future refunds if any, because the adjustment of demand against future refund amounts to an indirect recovery of tax, which is barred under section 205 read with instruction dated 1-6-2015 which clearly state that the deductee/assessee cannot be required to pay tax that has been deducted at source from his income. (Sanjay Sudan vs ACIT, 

The High Court of Calcutta has held that as circular dated 29.02.2016 if the assessee desires to treat the income arising  The High Court of Calcutta has held that as circular dated 29.02.2016 if the assessee desires to treat the income arising from transfer thereof as capital gains, the same shall not be put to dispute by the assessing officer. It is further stated that once such stand is taken by the assessee in a particular assessment year, shall remain applicable in subsequent assessment years also and the taxpayers shall not be allowed to adopt a different/contrary stand in this regard in subsequent years. If that be so, the same embargo can also be placed on the department, by holding that the department cannot take a different view in the subsequent years in the absence of any fresh materials warranting such departure.