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2016 (12) TMI 177 - ITAT MUMBAIGrant credit of tax deducted at source on the commission received - Held that:- We find that the assessee has shown income of from commission of ₹ 1,42,89,500/--AY 2012-13 on which TDS was deducted on 31.03.2011. We further find that the AO assessed the income as shown by the assessee, however, credit was allowed of ₹ 37,08,000/- which was deducted during the financial year 2011-12 relevant assessment year 2012- 13 which was claimed by the assessee in the succeeding year i.e. AY 2013-14 as the corresponding income was received in that year. In other words, the ACIT allowed the credit of TDS which was deducted during the year whereas the assessee following system of accounting wherein the commission was shown as income under on receipt basis and also corresponding TDS was claimed. Therefore, we are not in agreement with the conclusion drawn by the Id. CIT(A) that ACIT-CPC has rightly allowed credit of TDS from the commission as the assessee has claimed TDS which was deducted on 31.3.2011 whereas the TDS of ₹ 37,08,000/deducted during the financial year 2011-12 and the credit whereof was claimed in AY 2013-14 as the income was received in that year. The issue raised in this appeal stands covered by the decision of the Tribunal in the case of Mr. Anish Kapurchand Chandaria [2016 (11) TMI 655 - ITAT MUMBAI] we allow the appeal of the assessee for statistical purposes.
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