https://www.taxtmi.com/caselaws?id=239561 The High Court dismissed the Income Tax Appeal, upholding the judgment in favor of the assessee. The Court emphasized the interpretation of relevant provisions, the retrospective nature of clarificatory amendments, and the binding effect of circulars at the time of assessment. It was held that withdrawal of circulars did not create vested rights, and assessment should align with the law post-withdrawal. The obligation to deduct tax at source under Section 195 was analyzed, with the Court ruling in favor of the assessee based on previous judgments. en-us Wed, 13 Nov 2013 00:00:00 +0530 Fri, 06 Jun 2014 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239561 The High Court dismissed the Income Tax Appeal, upholding the judgment in favor of the assessee. The Court emphasized the interpretation of relevant provisions, the retrospective nature of clarificatory amendments, and the binding effect of circulars at the time of assessment. It was held that withdrawal of circulars did not create vested rights, and assessment should align with the law post-withdrawal. The obligation to deduct tax at source under Section 195 was analyzed, with the Court ruling in favor of the assessee based on previous judgments. Case-Laws Income Tax Wed, 13 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239561