Home Highlights June 2012 Year 2012 This

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1. TDS credit - AO did not allow the TDS credit on the ground that the corresponding income of this TDS has not been offered to tax by the assessee as it was not received...

2. Tax deducted at source (TDS) credit was denied in the intimation u/s 143(1) to the assessee. The Commissioner of Income Tax (Appeals) upheld the Centralized Processing...

3. Tax deducted at source (TDS) credit against enhanced compensation received under Land Acquisition Act. Petitioner's application for revised tax return rejected based on...

4. Revenue authorities cannot restrict tax deducted at source (TDS) credit based on assessee's original income tax return. When refund arises from appellate order,...

5. The Appellate Tribunal addressed two issues regarding TDS credit. Firstly, the Tribunal emphasized that income and TDS must align in any assessment year when income is...

6. TDS credit - TDS certificate was issued in the name of the previous owner of the bond. - The fact that the TDS certificate refers to assessment year 2005-06 is of no...

7. Credit of TDS can be granted only when income corresponding to such TDS is assessed to tax in the same financial year. Assessee has the liberty to approach the Assessing...

8. Denial of TDS credit - TDS is not reflected in Form No. 26AS of the assessee - Credit of TDS which was not deductible - We find from updated Form 26AS of the assessee,...

9. Denial of TDS credit - Credit deferred to next year - To rest the adjudication, it suffice to voice that, the combined reading of Section 199(3) r.w. Rule 37BA(3) makes...

10. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

11. Credit of TDS - Deductor deducted the TDS in the subsequent year - Income was shown in the ITR for the earlier year - since the assessee has shown income, the assessee...

12. The case involved a dispute over short collection of TDS due to lower TDS certificates with different TANs issued by deductees. The Central Processing Centre (CPC)...

13. Tax Credit Entitlement - Credit of TDS if deductor failed to deposit the TDS to the Government

14. Credit for TDS - Income offered to tax on receipt basis - the assessee is eligible to claim credit for TDS in assessment year 2016-17, when such professional income has...

15. Short deduction of taxes - Credit to the assessee for TDS deducted denied - the assessee has deducted and deposited TDS within time, but due to a technical error in CPC...