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TMI Blog2016 (12) TMI 177X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 44,15,455/- on the commission received from AEGIS Logistics Limited. 3. Brief facts of the case are that the assessee filed his return of income on 31.7.2012 declaring a total income of Rs. 1,42,97,500/- which was inclusive of commission income of Rs. 1,42,89,500/- received from AEGIS Logistics Limited on which the payer had deducted tax at source of Rs. 44,15,455/- on 31.3.2011. The assessee offered the said commission income to tax in assessment year 2012-13 and also claimed tax deduced at source of Rs. 44,15,455/- on the said commission. The said return was processed under section 143(1) of the Act by ACIT-CPC and intimation dated 14.6.2013 vide communication reference No. CPC/1213/P1/1223123198 u/s 143(1) of the Act raising a demand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed the 26AS certificate, I find that the date of the transaction of such payment was 31st March 2011 wherein the deduction of tax were made u/s.195 of the Act. The perusal of the date of payment clearly suggest that the said payment should have been disclosed as income by the appellant in A. Y.2011-12 whereas the appellant has made the disclosure of the said income in A.Y.2012-13, though the date of transaction of such payment was 31.03.2011 i.e., the end of the financial year 2010-11. Further to that, the perusal of the said 26AS also suggest that similar other two payments were also made to the appellant of Rs. 12,000/each after deduction of tax at source of Rs. 4,079/- on 07.10.2010 and 06.09.2010, which were also pertaining to A.Y.2011 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rmed. However, I would also like to make an observation here that the A.O should note of the aforesaid decision in relation to the appellant's form 26AS and take remedial action, if any, required for taxability of the income in the correct assessment year. With this observation the appellants this ground of appeals is adjudicated" 4. At the outset, the Id.AR submitted before us that the issue raised in his appeal now stands covered by the decision of co-ordinate Bench of the Tribunal in Mr. Anish Kapurchand Chandaria Vis ACIT in ITA No. No.7019/Mum/2014 (AY- 2012-13) dated 15.9.2016. In view of this position, the Id. AR submitted that the appeal of the assessee be allowed by setting aside the order of CIT(A) and direct the AO to allow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -12 and the credit whereof was claimed in AY 2013-14 as the income was received in that year. We find that the identical issue has been decided by the co-ordinate bench in the case of Mr. Anish Kapurchand Chandaria (supra), wherein the Co-ordinate Bench has held as under: "5. We have considered the rival contentions and perused the material on record. We have observed that the assessee has offered for taxation commission income of Rs. 1,42,98,518/- for the assessment year 2012-13 on which tax is stated to have been deducted at source of Rs. 44,15,455/- which is claimed by the assessee in the return of income filed with Revenue. The said commission income was credited to the account of the assessee by deductor Aegis Logistics Limited as at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cally Rule 37BA(3) of Income Tax Rules, 1962 . It will also be verified by the learned AO/ACIT(CPC) that there is no double credit of prepaid taxes claimed by the assessee for these assessment years 2011-12 to 2013-14 and all the income are duly accounted for by the assessee and hence, thereafter, appropriate rectifications shall be carried out by AO/ACIT(CPC) to ensure correct income is brought to tax as well correct credit of prepaid taxes are granted to the assessee in accordance with the mandate of the Act. There is further grievance of the assessee with respect to denial on part of Revenue in granting credit of TDS of Rs. 2790/- to the assessee which shall also be looked into by the AO/ACIT(CPC) in set aside proceedings. Needless to sa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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