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TMI Blog2025 (1) TMI 1356X X X X Extracts X X X X X X X X Extracts X X X X ..... cipal would be treated as income/receipt of the assessee company - Since the assessee had not shown the said amount of income, it has been held that the assessee would not get credit of the entire TDS rather the credit of TDS has to be restricted only in view of the provisions u/s 199 of the Act of 1961 read with Rule 37BA of the Income Tax Rules. HELD THAT:- This Court allows learned counsel for the petitioner(s) to withdraw both the writ applications with liberty to prefer a duly constituted appeal before the Appellate Authority within a period of thirty days from today. Since the writ applications were filed on 06.07.2021 and 16.06.2021 respectively as per the date of registration available on the record, we are of the considered opini ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w. (ii) For issuance of an appropriate writ/order/direction in the nature of certiorari/mandamus commanding upon the concerned respondents to restrict the demand of Rs. 186430.00 when the refund has already been made for the assessment year 2018-19 along with interest as the order has been passed on repeal rule i.e. Rule 32AB. (iii) For issuance of an appropriate writ/order/direction in the nature of certiorari/mandamus commanding upon the concerned respondents that notice cannot be issued on repealed Rule. (iv) For issuance of WRIT to hold Rule 37 BA to be ultra vires as it is in violation to Article 265 of the Constitution. (v) For any other relief or reliefs, to which the petitioner may be found entitled by this Hon'ble Court ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nly in view of the provisions under Section 199 of the Act of 1961 read with Rule 37BA of the Income Tax Rules. 7. Ms. Archana Sinha, learned Senior Standing Counsel for the Department of Income Tax has informed this Court that the order as contained in Annexure '10' and Annexure '8' respectively in the two writ applications are appealable orders under Section 246A of the Act of 1961 and the petitioner(s) have got an equally efficacious remedy. 8. Mr. Prakash Sahay, learned counsel for the petitioner(s) having understood that the remedy of appeal which is available to the petitioner(s) is an equally efficacious remedy submits that he may be permitted to withdraw these applications with liberty to assail the impugned orders in both the wri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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