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2018 (9) TMI 1638 - HC - Income TaxGrant of credit of the tax deducted at source - refund such excess tax to the petitioner with statutory interest - Held that:- In the first of the two reasons leading to mismatch, as noted, the ground was that the fixed deposits offered by the firm by way of security to cover defect liability for specified period, the authorities not permit substitution of the FDs even though the firm had ceased to be in existence. The Banks of which such FDs were therefore offered by way of security, had no choice but to make payment of interest in the name of the firm and also deduct tax in such name. However, according to the petitioner, the income was declared by the company. If so, the company must get the benefit of tax deducted at source. Wherever the payer-deductor had made the payment to the company but by error deposited tax in the account of the firm, the petitioner company must get benefit of such tax deducted at source. The petitioner has no control over the payerdeductor. In the present case those payees are all Government organizations. At the instance of Incometax Department the petitioner did try to persuade such organizations to make corrections, but failed. The respondent No.1 Assessing Officer is requested to verify full details of payments and deduction of tax at source. The petitioner shall provide necessary documents alongwith representation which may be mad latest by 10.10.2018.
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