AO not to raise direct demand against an assessee wherein TDS credit mismatch arises due to default of deductor: CBDT

SECTION 199 OF THE INCOME-TAX ACT, 1961 - DEDUCTION OF TAX AT SOURCE - CREDIT FOR TAX DEDUCTED - NON-DEPOSIT OF TAX DEDUCTED AT SOURCE

INSTRUCTION NO.275/29/2014-IT-(B), DATED 1-6-2015

Mumbai ITAT allows set-off of long-term capital loss arising from sale of STT paid equity shares

FOLLOWED Hon'ble Calcutta High Court in the case of Royal Calcutta Turf Club v. CIT (1983) 144 ITR 709 (Cal). In this decision it was submitted that similar issue with regard to the losses on account