9911796707
TMI Blog2019 (11) TMI 1811X X X X Extracts X X X X X X X X Extracts X X X X ..... iary of this Company w.e.f. 01.04.2012 as ordered by the Hon'ble High Court of Andhra Pradesh in Company Petition No.182/2013 dated 14.11.2013 and the Company Application No.815/2013 in the case of M/s Decatrend Technolgies Pvt. Ltd. and M/s Serve All Enterprise Solutions Ltd. The amalgamated company's name was subsequently changed to M/s CES Pvt. Ltd. While filing the return of income for relevant A.Y., the assessee company had taken into consideration the income of both the amalgamating company and the amalgamated company and also had claimed the credit for advance tax and TDS credit of both the companies prior to the amalgamation. During the assessment proceedings u/s 143(3) of the Income Tax Act, 1961 (the Act) the A.O. had considered t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CES Private Ltd have been taken into consideration while arriving at the total Tax payable by the assessee 'in its computation, while the income of both the companies was clubbed in the assessee's hands. 4. The Ld. CIT(A) ought to have appreciated that the AO erred in allowing the credit to advance tax for the lesser amount of Rs. Rs.80,00,000/ - as against the actual amount of Rs. 1,40,00,000/- Tax effect: Rs.60,00,000/- 5. The Ld. CIT(A) ought to have appreciated that AO erred in allowing credit to the TDS only to the extent of Rs. 5,92,604/- as against the actual amount of Rs. 23,12,919/-* Tax effect: Rs.17,20,315/- 6. The appellant may add or alter or modify or substitute or delete add or rescind all or any of the grou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , submitted that the details furnished by the assessee need to be examined by the A.O. 3. Having regard to rival contentions and material placed on record, we agree with the contention of the assessee that when the amalgamated results or income of the amalgamating company has been taken into consideration, then the credit for advance tax paid and TDS made by amalgamating company should be given to amalgamated company, i.e. the assessee before us. 3.1. In view of the same, we deem it fit and proper to remand the issue to the file of A.O. with a direction to verify the claim of TDS credit and advance tax paid by amalgamating company and allow the same to the assessee in accordance with law. 4. In the result, the appeal of the assessee is a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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