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TMI Blog2022 (12) TMI 1279X X X X Extracts X X X X X X X X Extracts X X X X ..... ssment year 2018-19 & 2019-20. Since common issues are involved in both the appeals and the consideration, the same are being taken up for consideration together. 2. The assessee has taken the following grounds of appeals: Assessment year 2018-19 Grounds of Appeal Tax effect relating each Ground of appeal 1 On the facts and circumstances of the case as well as law on the subject, the learned commissioner of Income-Tax (Appeals) has erred in confirming disallowed TDS credit. 8,37,421/- 2 On the facts and circumstances of the case as well as law on the subject, the learned commissioner of Income-Tax (Appeals) has erred in confirming order u/s 143(1), disallowing TDS credit on contentious ground. 3 On the facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dit. 3,62,414/- 2 On the facts and circumstances of the case as well as law on the subject, the learned commissioner of Income-Tax (Appeals) has erred in confirming order u/s 143(1), disallowing TDS credit on contentious ground. 3 On the facts and circumstances of the case as well as law on the subject, the learned commissioner of Income-Tax (Appeals) has erred in not dealing with appellant's contention that in case of percentage completion method, exact correlation between amount offered for the tax for the year and TDS for the year cannot be correlated. 4 On the facts and circumstances of the case as well as law on the subject, the learned Commissioner of Income-Tax (Appeals) has erred in confirming interest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of TDS and the said TDS has been duly deposited with the Government and the assessee has received the requisite certificate to this effect, then on production of such certificate, assessee becomes entitled to credit of TDS, even if the assessee has not directly offered the said income to tax. In support of the contention, the counsel for the assessee placed reliance on certain judicial precedents in support. In response, DR placed reliance upon the orders passed by the AO and Ld. CIT(Appeals) respectively. 4. We have heard the rival contentions and perused the material on record. In this case, we observe that the AO issued notice under section 139(2) of the Act for the reason that credit of TDS has been claimed, but the corresponding rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or in any of the earlier years) and the assessee is able to correlate the income offered to tax with the TDS deducted, the assessee is eligible for credit of TDS. In the case of Supreme Renewable Energy Ltd.[2010] 124 ITD 394 (Chennai), ITAT held that when a particular income is received by assessee after deduction of tax at source and said TDS has been duly deposited with Government and assessee has received requisite certificate to this effect, then on production of said certificate assessee becomes entitled to credit of TDS, even if assessee has not directly offered said income for tax as assessee considers that same is not liable for tax. In the case of Zelan Projects (P.) Ltd.[2015] 63 taxmann.com 334 (Hyderabad - Trib.), the ITAT hel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e corresponding income has been offered to tax by the assessee either during the current year or in any of the prior years by the assessee following the percentage completion method. Accordingly, in the above facts, the matter is being restored to the file of AO to carry out the necessary verification in respect of income offered to tax and the corresponding TDS for which credit is being claimed and TDS credit may be allowed after carrying out the necessary verification in the year when TDS has been deducted- subject to the assessee producing the correlation that such income has been offered to tax either during the current year or any of the earlier previous years. 5. In the result, the appeal of the assessee is allowed for statistical pu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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