Disallowance of TDS U/S 37BA3

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... The Assesse is following Mercantile basis of accounting. Based on Accrual method,Income was accounted before March 2010 (AY2010-11 )and offered to tax. Assessment was completed, based on Income declared. Tax was computed, credit for TDS was given and assessment was completed for AY 2010-11. CASE is for AY 2011-12, matter in Appeal. For the above referred Income Bills were raised on the party .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... next year in April 2010. Party deducted TDS in financial year 2010-11 (AY 2011-12). The AO while scrutiny assessment disallowed TDS on the said Income with the reason U/S 37BA3 TDS is to be allowed in the year when income is offered to tax. In current year income is not offered to tax hence TDS is disallowed. He appreciated that income is already offered in PY, but section does not say that. G .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... enerally income is spread in subsequent years and TDS is allowed partly in subsequent years. This is a pecular case where Income is already offered to tax and tax is paid but TDS is deducted next year. No refund or claim for TDS could have been made in Past year since no TDS has been deducted and no tax has been credited to govt treasury. Please give your valuable advice and if possible appropri .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ate case laws. Regards CA LM Agrawal 9867710107 - Reply By Ganeshan Kalyani - The Reply = Sir, may I request you to please reproduce the section which you have referred to in your query. Thanks. - Disallowance of TDS U/S 37BA3 - Query Started By: - LM Agrawal Dated:- 12-7-2016 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal op .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... inion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X