9911796707
TMI Blog2023 (2) TMI 631X X X X Extracts X X X X X X X X Extracts X X X X ..... oned appeal has been filed at the instance of the Assessee against the order of the Learned Commissioner of Income Tax(Appeals), Vadodara, dated 30/08/2022arising in the matter of assessment order passed under s.143(3) of the Income Tax Act, 1961 (here-in-after referred to as "the Act") relevant to the Assessment Year 2016-17. 2. The assessee has raised the following grounds of appeal: 1. The L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Briefly stated facts are that the assessee in the present case is a partnership firm and engaged in the business of Civil Road construction. The assessee in the year under consideration has executed work contract of Rs.4,44,48,833/- which was offered to tax. However, the party has also given the advance of Rs.3.50 crores to the assessee which was shown as liability in the books of accounts. Howev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enefit of TDS credit in the Financial Year 2016-17. However, the Ld.CIT(A), rejected the claim of the assessee by observing as under: 6.2 Though the appellant claims that the AO was not justified in making such assessment, he never put forth any reason for claiming so. Even during current appellant proceedings, the appellant never came forward with his explanation to the grounds mentioned by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the Financial Year 2016-17 corresponding to AY 2017-18 and therefore the amount of TDS credit should be allowed in the AY 2017-18. 9. On the other hand the Ld. DR vehemently supported the order of the authorities below. 10. I have heard the rival contentions of both the parties and perused the materials available on record. There is no dispute to the fact that the assessee has shown advance of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment year for which such income is assessable. Accordingly, I am of the view that the assessee should be allowed the benefit of TDS credit in the AY 2017-18 subject to the verification. Hence, the ground of appeal of the assessee is allowed in the terms of the above direction. 11. In the result, the appeal of the assessee is allowed subject to the direction stated above. Order pronounced ..... X X X X Extracts X X X X X X X X Extracts X X X X
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