CHATURVEDI SK & FELLOWS LLP,MUMBAI vs. INCOME-TAX OFFICER 16(2)(1) MUMBAI, MUMBAI

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ITA 5700/MUM/2024Status: DisposedITAT Mumbai31 January 2025AY 2018-19Bench: SHRI AMRJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)5 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal acknowledged that the Assessee offered the income on a cash basis in the relevant year and the TDS was reflected in 26AS. It restored the matter to the Assessing Officer with directions to verify if the claimed TDS corresponds to the income offered in AY 2018-2019 and if it has not been claimed in any preceding assessment years, and then to grant the credit.

What were the facts?

The Assessee, a CA firm following cash basis accounting, claimed TDS credit of INR 3,30,000 against income of INR 33,00,000 offered for AY 2018-2019. The TDS was reflected in Form 26AS for AY 2016-2017. The credit was denied because the 2016-2017 return did not show a carry forward of the TDS, despite the income being offered on a receipt basis in AY 2018-2019.

What were the issues?

Whether the Income Tax authorities were justified in denying TDS credit to the Assessee for AY 2018-2019, when the income was offered on a cash basis in that year, but the corresponding TDS was reflected in Form 26AS of an earlier assessment year.

Which sections of the Income-tax Act were involved?

Section 250,Section 154

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

आदेश की प्रतितिति अग्रेतिि/Copy of the Order forwarded to : 1. अपील र्थी / The Appellant 2. प्रत्यर्थी / The Respondent. आयकर आय क्त/ The CIT 3. 4. प्रध न आयकर आय क्त / Pr.CIT 5. दिभ गीय प्रदिदनदध ,आयकर अपीलीय अदधकरण ,म ुंबई / DR, ITAT, Mumbai 6. ग र्ड फ ईल / Guard file.

आिेश न स र/ BY ORDER, सत्य दपि प्रदि //True Copy// उप/सह यक पुंजीक र /(Dy./Asstt. Registrar) आयकर अपीलीय अदधकरण, म ुंबई / ITAT, Mumbai

Sr. No. Details Date Initials Designation 1 Typed/Dictated directly on PC Sr.PS/PS 2 Draft Placed before author Sr.PS/PS 3 Draft proposed & placed before JM/AM the Second Member 4 Draft discussed/approved by JM/AM Second Member 5 Approved Draft comes to the Sr.PS/PS Sr.PS/PS 6 Order pronouncement on Sr.PS/PS 7 File sent to the Bench Clerk Sr.PS/PS 8 Date on which the file goes to the Head clerk 9 Date on which file goes to the AR 10 Date of Dispatch of order

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