ITA NO. 391 and 392 / 2011 / Rajkot Amendment in section 206C (TCS) w.e.f. 01-07-2012, whereby the tax collector will not be held to be assessee in default if the buyer has paid income tax on his total income, filed his return of income etc, is held to be applicable to all pending proceedings i.e. has retrospective effect. (Paragraphs 42 to 45)

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