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2017 (12) TMI 1831 - AT - Income TaxCredit of TDs deducted towards Mobilization Advance recovered - HELD THAT:- The Act and Rules are clear that credit of TDS can be granted only in the year in which the income/receipt on which such tax deducted at source is assessable to tax. Thus, in my view the order of Ld. CIT(A) is against the provision of the Act. Hence, the same is reversed and the appeal of the revenue is allowed. Coming to the cross objection the claim of the assessee is in accordance with Section 199 read with Rule 37BA(3) of the Act. The assessing officer directed to grant credit as per law to the assessee in the year which mobilization receipt is offered to tax as income.Appeal of the Revenue is allowed and the Cross objection of the assessee is disposed off as above.
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