9911796707
TMI Blog2022 (7) TMI 1153X X X X Extracts X X X X X X X X Extracts X X X X ..... T MEMBER: Captioned appeal filed by the assessee, pertaining to assessment year 2012- 13, is directed against the order passed by the Learned National Faceless Appeal Centre (NFAC)/ Ld.CIT(A) dated 03.08.2021, which in turn arises out of assessment order passed by the Assessing Officer ('AO' for short) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') vide order dated 29.03.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommissioner of Income Tax (Appeals), NFAC has erred in confirming the action of Deputy Commissioner of Income Tax (CPC) in charging interest u/s 234A, 234B and 234C of the I.T. Act. 4. It is therefore prayed that less allowance of tax deducted at source by Deputy Commissioner of Income Tax (CPC) and confirmed by Commissioner of Income-tax (Appeals), NFAC may please be deleted." 3. At the outset ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee is entitled to take credit of TDS deducted by NICL and therefore the TDS credit should be allowed to assessee. 4. On the other hand, Ld. Sr.DR for the Revenue submitted that this is a case for reconciliation of TDS amount which is not reflected in Form No.26AS. The Ld. Sr.DR argued that if the TDS is not getting reflected in Form No.26AS then Assessing Officer does not have power to allow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 79,052/-. We note that difference in TDS appears to be on account of TDS certificate issued to assessee by National Insurance Co. Ltd. from the commission amount paid to assessee and the amount of TDS reflected in Form No.26AS. It is possible that later on, NICL might have revised its TDS returns and reduced TDS credit of assessee. We note that assessee has fully offered commission income for taxa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n order u/s 154 of the Act. That is, the right income should be taxable in the hands of the assessee. 7.Alternatively, the assessing officer should examine Form No. 26AS and TDS certificate of assessee and revised TDS return of TDS of NICL and adjudicate the issue afresh in accordance with law. In this alternative also, we make it clear that if TDS credit is disallowed in that circumstances the c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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