DEEPSHIKHA TRADING COMPANY PVT. LTD.,KOLKATA vs. I.T.O., WARD - 6(2), KOLKATA

PDF · subscribers
ITA 1957/KOL/2024Status: DisposedITAT Kolkata14 January 2025AY 2018-2019Bench: the Tribunal raising the following grounds of appeal:8 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the CIT(A)'s view was incorrect, as the credit for TDS and advance tax of the amalgamating company ought to have been allowed to the amalgamated company. Since the amalgamating company no longer existed and its assets and liabilities were taken over, the credit must be allowed to the amalgamated company.

What were the facts?

The assessee company, after amalgamating with another entity, claimed credit for TDS and advance tax paid by the amalgamating company. The Assessing Officer (AO) passed an order under Section 143(3) accepting the returned income, but did not grant the claimed credit. The CIT(A) dismissed the appeal, holding it was infructuous as the cause of action arose from the intimation under Section 143(1).

What were the issues?

Whether the amalgamated company is entitled to claim TDS and advance tax credit of the amalgamating company, and whether the appeal against the Section 143(3) order was rightly dismissed as infructuous.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 143(1),Section 199,Section 198,Section 246A,Section 154

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘SMC’ BENCH, KOLKATA

Before: SHRI SONJOY SARMA & SHRI RAKESH MISHRA

For Respondent: DR and Somnath Das Biswas, Sr. DR

order

: January 14th, 2025 ORDER

PER RAKESH MISHRA, ACCOUNTANT MEMBER:

1.

This appeal filed by the assessee is against the order of the Ld. Commissioner of Income Tax (Appeals)-NFAC, Delhi [hereinafter referred to as “the Ld. CIT(A)”] passed u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) for AY 2018-19 dated 31.07.2024, which has been passed against the assessment order u/s 143(3)/143(3A)/143(3B) of the Act, dated 12.02.2021.

More judgments on Section 199

All 535 judgments and leading authorities on Section 199 →

Recent GST High Court judgments

Search GST case law →