Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (8) TMI 1092 - AT - Income TaxRectification of mistake field u/s. 154 - credit of the TDS was not claimed in return of income because of non-appearance in the Form 26AS at the time of filing return of income, however knowing the correct situation, the appellant filed an application for rectification of mistake online - TDS certificates in the name of Joint Venture partner or Director - HELD THAT:- We conquer with the argument of the Ld. A.R. that at the time of filing of original return u/s. 139 the payment of TDS was not reflected in Form 26AS as deductor had not remitted the same in the Government account and as evident from the record and from Form 26AS M/s Aditya Coke Pvt. Ltd. had remitted TDS of ₹ 12,41,617/- on 24/03/2013. The Hon’ble High Court of Andhra Pradesh in the case of CIT vs. Bhooratnam & Co.. [2013 (1) TMI 478 - ANDHRA PRADESH HIGH COURT] wherein it is held that “ the revenue cannot be allowed to retain tax deducted at source without credit being available to anybody, if credit is not allowed to the assessee, and the joint venture has not filed return of income, then credit of the TDS cannot be taken by anybody. This is not the spirit and intention of law. Therefore, in our view, the Assessing Officer erred in denying the benefit of the TDS mentioned in the TDS certificates filed by the assessee on the ground that the TDS certificate is issued in the name of the joint venture or a director and not the assessee”. CBDT has also vide instruction No. 5/2013 dated 08/07/2013 even in the cases of mismatch of TDS directed to give credit of TDS when the assessee furnishes the TDS certificate. - In the present case, the appellant furnished the TDS certificate and at the time of filing of original return could not file because M/s Aditya Coke Pvt. Ltd. remitted the TDS in the Government account on 24/03/2013. Therefore same was not reflecting at the time of filing of return. We set aside this matter back to the tile of the Assessing Officer examine the Form 26AS and other details have been submitted by the appellant before the lower authorities and if it is found that M/s Aditya Coke Pvt. Ltd. has remitted the TDS of ₹ 12,41,617/- in the Government account then will give benefit of the same to the assessee.Appeal filed by Assessee is allowed.
|