9911796707
TMI Blog2024 (2) TMI 1147X X X X Extracts X X X X X X X X Extracts X X X X ..... that in terms of Rule 37BA(3)(i), benefit of TDS is to be given for assessment year for which corresponding income is assessable, therefore, where assessee received rental income on 31.03.2020, benefit of TDS had to be allowed in Assessment Year 2020-21 even though tenant inadvertently reported same in AY 2021-22. Thus we are of the considered view that in case the assessee has not claimed double deduction of credit of TDS, then the assessee is entitled to claim deduction of TDS in the year in which the corresponding income has been offered to tax by the assessee and the assessee has raised invoices on the payer. In the instant case, the assessee s contention is that both the services as well as invoices have been raised on the payer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to add, amend, alter, edit, delete, modify or change all or any of the grounds of appeal at the time of or before hearing of the appeal. 3. We observe that the present appeal is time barred by 189 days. The assessee has filed affidavit and submitted that CPC in intimation under Section 143(1) of the Act has made adjustments and also denied TDS credit, against which appeal was preferred before Ld. CIT(A). It was submitted that the office accountants of the assessee company was not aware of technicalities of Income Tax Act and were under the belief that there is no legal remedy available against denial of TDS credit. Thereafter, the assessee obtained legal opinion and was advised to file appeal against denial of TDS credit. Before Inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion work sites are situated in various parts of India. The assessee filed return of income declaring total income of Rs. 5,72,97,190/-. The assessee submitted before Ld. CIT(A) that TDS amount of Rs. 14,38,505/- claimed by the assessee cannot be disallowed simply on the ground that TDS credit is not reflecting in Form No. 26AS. The assessee s submissions were that the services were rendered in A.Y. 2020-21 and hence income is taxable in A.Y. 2020-21 and TDS credit is available in this year only in terms of Section 199 of the Act. The reason why the TDS amount is not reflecting in Form 26AS is that the payer deducted TDS in A.Y. 2019-20 as per their accounting policy, but the assessee did not claim TDS in A.Y. 2019-20 since services were ren ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see drew our attention to Page 38 of the Paper book (computation of income) and submitted that the assessee has not claimed TDS credit for the sum of Rs. 14,38,505/- in the return of income filed for A.Y. 2013-14. The Counsel for the assessee submitted that the total TDS credited by the payer as per Form 26AS was Rs. 1,26,19,719/- for A.Y. 2019- 20, while the assessee has claimed TDS of RS. 1,11,81,214/-. Accordingly, it was submitted that the difference between the TDS deducted by the payer for A.Y. 2019-20 and the amount of TDS claimed by the assessee as per return of income is Rs. 14,38,505/-, which is the precise amount of TDS which has been deducted by the payer in respect of invoices dated 04.06.2019, 24.05.2019 and 01.05.2019 in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refore, where income, on which TDS was deducted was patently assessable in year under consideration, benefit of credit of TDS should also be allowed in same year i.e. year under consideration. In the case of Mahesh Software Systems (P.) Ltd. 154 taxmann.com 664 (Mumbai - Trib.), the ITAT held that in terms of Rule 37BA(3)(i) benefit of TDS is to be given for assessment year for which corresponding income is assessable, therefore, where assessee raised invoice on 'A' in March 2011, benefit of TDS had to be allowed in Assessment Year 2011-12 even though tax on invoice amount was deposited by 'A' in April 2011. In the case of Anup Rajendra Tapadia 147 taxmann.com 167 (Pune - Trib.) the ITAT held that in terms of Rule 37BA(3 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
