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2015 (6) TMI 66 - AT - Income TaxWithdrawal of credit allowed for tax deducted at source - amount received by the assessee towards mobilisation advance during the year under consideration - Revision u/s 263 - Held that:- Once the TDS was deducted and paid to the Central Government, a credit of the same should be given to the assessees in order to avoid all sorts of complications in the year of deduction of the TDS. Therefore, we find no infirmity in the order of the Commissioner of Income-tax (Appeals) who has rightly directed the Assessing Officer to allow the credit of the TDS in the impugned assessment year. Accordingly, the order of the Commissioner of Income-tax (Appeals) is confirmed." It is manifest from the relevant portion of the Tribunal's order as reproduced above that the issue involved in the present case is squarely covered in favour of the assessee by the co-ordinate Bench's order on merit whereby, similar issue involving identical facts has been decided by the Tribunal in favour of the assessee after taking into consideration all the relevant aspects of the matter including the provisions of section 199 as applicable to the assessment year 2006-07. The learned Departmental representative has also not been able to dispute this position clearly evident from the order of the Tribunal, a copy of which is placed on record before us. Moreover, the order passed by the Tribunal in the case of P. Srinivasa Rao (2011 (3) TMI 1495 - ITAT VISAKHAPATNAM) deciding a similar issue on merit in favour of the assessee clearly shows that the view taken by the Assessing Officer while allowing credit for the TDS made from mobilisation advance was a possible view and the learned Commissioner of Income-tax, in our opinion, was not justified in substituting his own view for such possible view taken by the Assessing Officer by his impugned order passed under section 263 as the same is not permissible under the provisions of section 263 as held in the case of Malabar Industrial Co. Ltd. v. CIT [2000 (2) TMI 10 - SUPREME Court]. We, therefore, set aside the impugned order of the learned Commissioner of Income-tax passed under section 263 and allow the appeal of the assesse - Decided in favour of assesse.
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