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2021 (1) TMI 669 - AT - Income TaxNon granting TDS credit - As per assessee when the return of income was processed by the Centralised Processing Centre (“CPC”) u/s 143(1) in the intimation the CPC did not allow credit of TDS because the same was not reflected in form 26AS per the assessment year 2017-18 but are entirely stood included in form 26AS for the assessment year 2018-19 - HELD THAT:- Provisions u/s 199 (3) and also rule 37 BA (3) of the Rules, we are of the considered opinion that in this case where the tax has been deducted at source and paid to the Central government by the Hindustan Aeronautics Limited in the assessment year 2018-19 and such TDS relates to the income assessable over the assessment years 2017-18 and 2018-19, the credit has to be given in the proportion in which the income is assessable to tax for the assessment years 2017-18 and 2018-19 respectively. Ends of Justice would be met by directing AO to look into the fact whether the TDS deducted by the Hindustan Aeronautics Limited and reflected in form 26AS for the assessment year 2018-19, relates to the income/receipt in the hands of the assessee which is assessable for the assessment years 2017-18 and 2018-19, and if so then the assessing officer is directed to grant proportionate credit for such years. We, set aside the impugned order and remand the issue to the file of the assessing officer to verify whether the TDS deducted by the Hindustan Aeronautics Limited and reflected in the 26AS for the assessment year 2018-19 relates to the receipt in the hands of the assessee assessable for the assessment years 2017-18 and 2018-19, and if it is so, AO will allow proportionate credit for these 2 years. With this observation we allow the appeal of the assessee.
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