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2010 (12) TMI 334 - AT - Income TaxNon recognition of TDS as Income - Accrual basis of account - Claim of credit of TDS - Where tax has been deducted at source and paid to the Central Government and income is assessable over a number of years, credit for tax deducted at source shall be allowed across those years in the same proportion in which the income is assessable to tax - Held that: - where the course yielded by plain common sense matches with that statutorily provided, i.e., allow credit for TDS against the corresponding income on its assessment, so that even the absence of section 199 would yield the said course in view of the dictum by the hon’ble apex court that tax laws should be applied, as far as circumstances may admit, in an equitable manner [refer: CIT v. Ghotla J.H. [1985 -TMI - 5903 - SUPREME Court].
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