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2012 (2) TMI 632 - AT - Income TaxDisallowance of the claim for credit of TDS u/s. 199 - Held that:- The fee involved is paid subsequently i.e. after 31.3.1998. Since the assessee follows cash system of accounting it did not account for the total fee involved of ₹ 1017843/- as the same was not received by the assessee. However, the parties involved deducted tax on this amount and paid in government account for the credit of assessee. Since this TDS amount was paid to the credit of the assessee it accounted for amount of TDS as fee received and accordingly it claimed benefit of the same. Assessee’s action is in accordance with provisions of section 199 and the assessee is eligible for seeking credit of the TDS amount. Hence, set aside the orders of the authorities below and decide the issue in favour of the assessee.
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