CBDT has issued a benevolent circular dated 29/02/2016 under which a new guideline has been issued under which if the assessee pays at least 15% of tax due , the A.O is bound to stay of demand . Under this new circular , if A.O desires to fix more or lss than 15% , the Commissioner of Income Tax is an authrity to hear and dispose off his proposal.Practically , there may be an exceptional CIT who will not ask the assessee to pay for at least 15 % citing the Circular as binding on him/her. So .what an assessee can do if he/she/it is suffering on account of high pitched assessment and has no money to pay for even 15 % of such tax demand ? This post is explaining that despite the newest circular dt 29th Feburary 2016, the CIT has power and duty to stay the demand if teh assessee is facing genuine hardship .
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