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2023 (4) TMI 88 - ITAT MUMBAITDS credit on sale of software patches and modules - credit of Tax Deducted at Source claimed during the year under consideration in respect of Tax Deduction at Source pertaining to earlier years which were denied during the assessments of the respective years - HELD THAT:- As per provisions of section 199 of the Act, tax deducted at source and paid to government exchequer is treated as payment of tax on behalf of the person for whom TDS was made. Rule 37BA(3) further clarifies that credit for TDS shall be given for assessment year for which such income is assessable. In the case of Supreme Renewable Energy Vs. ITO [2008 (8) TMI 432 - ITAT MADRAS-C] the Tribunal following the decision in the case of CIT vs. Karnal Co-Op Sugar Mills Ltd. [1999 (4) TMI 7 - SC ORDER] held that when the interest income is incidental to the acquisition and installation of an asset and not directly liable for tax, assessee is entitled for the credit of the TDS from the interest income which has been duly received by the Government. Thus we are of the considered view that the assessee is eligible for TDS credit earlier not allowed to the assessee - Decided in favour of assessee.
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