TMI Blog2016 (8) TMI 823X X X X Extracts X X X X X X X X Extracts X X X X ..... p is restricted to a certain percentage of the right in the property. The assessee has collected the rent payable with respect to the property in its entirety and thereafter has passed on the rent including the amount deducted on account of the tax to the other co-owners. There is, as such, no reason why the assessee should not be entitled to enjoy the benefit of tax deducted at source. Mr. Agarwa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rred by the revenue was dismissed. The aggrieved revenue has come up in appeal. The following question of law has been suggested :- Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is correct in deleting addition of ₹ 74,22,427/- being rental received by the assessee but not returned as income on the ground it pertained to portion sold t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee company was ₹ 1,07,69,778/- against whom TDS of ₹ 5,59,807/- was claimed. But in P/L account, ₹ 33,47,351/- only was taken as the rental income by the assessee company. On being asked, it was submitted by the assessee company in course of assessment proceedings that some portion of the building was sold to three companies namely, M/s.Nadia Security Printing and Stationery Co.L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er the submission advanced by Mr.Mazumder, drew our attention to sub-section (1) of Section 199 of the Income Tax Act, 1961, which provides as follows : 199. Credit for tax deducted. (1) Any deduction made in accordance with the foregoing provisions of this Chapter and paid to the Central Government shall be treated as a payment of tax on behalf of the person from whose income the deduction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e other co-owners. There is, as such, no reason why the assessee should not be entitled to enjoy the benefit of tax deducted at source. Mr. Agarwal did not dispute that the assessee has paid the share of the co-owners including the share in the amount of tax deducted at source. In the facts of the case, we find no merit in the submission advanced by Mr.Agarwal. The question is, therefore, answe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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