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2023 (6) TMI 933 - DELHI HIGH COURTGrant of credit for tax deducted at source u/s 195 and surcharge - ITAT allowed grant of credit of such tax deducted at source - whether tax credit could have been given qua tax deducted at source, vis-à-vis advances received by the respondent/assessee, which is an entity located in Japan, from the Board against off-shore supplies made in the succeeding period i.e., FY 2006-2007 [AY 2007-2008]? - HELD THAT:- Tribunal having returned a finding of fact that there was nothing on record to suggest that any taxable income arose or accrued in India in favour of the respondent/assessee either in AY 2006-2007 or AY 2007-2008, the impugned order does not call for any interference. The reasoning set forth in the impugned order by the Tribunal is unimpeachable. Tribunal was right in holding that the advances which are once held to be not income, could not have been subjected to tax at source u/s 195 of the Act. Tribunal was right in concluding that the refund or grant of credit of such tax deducted at source, could not be denied. No substantial question of law - Decided against revenue.
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