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Issues Involved:
1. Whether the CIT(A) was justified in allowing the credit of TDS for the assessment years 2007-08 and 2008-09 as per the provisions of section 155(14) of the I.T. Act. Summary: Issue 1: Credit of TDS for Assessment Year 2007-08 The revenue challenged the CIT(A)'s decision to allow TDS credit of Rs. 20,04,748/- for the assessment year 2007-08. The assessee had e-filed its return on 30.10.2007, claiming TDS credit of Rs. 94,00,697/-. Subsequently, on 27.7.2009, the assessee filed an application u/s 154 requesting additional TDS credit of Rs. 20,04,748/-. The AO rejected this claim on 11.5.2011. The CIT(A) provided relief to the assessee, directing the AO to verify the TDS credit as per the provisions of section 155(14) and grant the refund with interest. The Tribunal upheld the CIT(A)'s decision, noting that the provisions u/s 155(14) are clear and self-contained, and the AO was directed to verify the TDS credit and grant the refund accordingly. Issue 2: Credit of TDS for Assessment Year 2008-09 For the assessment year 2008-09, the assessee e-filed its return on 3.10.2008, claiming TDS credit of Rs. 3,69,85,737/-. A revised return was filed on 18.9.2009, claiming a higher TDS credit of Rs. 4,55,73,699/-. The assessee filed an application u/s 154 on 4.1.2011 for additional TDS credit of Rs. 85,87,962/-. The AO rejected this application, stating that the original return was not filed on time. The CIT(A) provided relief, directing the AO to consider the revised return and the TDS credit claim as per section 155(14). The Tribunal upheld this decision, emphasizing that the appellate authority is empowered to direct the AO to make a just assessment based on the revised return and the provisions of section 155(14). Supporting Case Laws: The Tribunal referred to several case laws supporting the CIT(A)'s decision: 1. Asia Satellite Telecommunications Co. Ltd. vs. ADIT - The court held that the AO could not reopen assessment proceedings merely because excessive relief was granted based on TDS certificates. 2. Gloric Investments Ltd. vs. DDIT - The Tribunal held that the assessee was entitled to a refund based on TDS certificates produced later, even if the claim was not made in the original return. 3. CIT vs. Digital Global Soft Ltd. - The court upheld the Tribunal's decision that the assessee was entitled to TDS credit even if the claim was made after the original return, as long as the certificates were produced within the statutory period. Conclusion: The Tribunal found no infirmity in the CIT(A)'s orders and upheld the decisions to allow the TDS credits for both assessment years 2007-08 and 2008-09. The appeals were dismissed, and the orders were pronounced in the open court on 29th November 2013.
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