HCC CP PL JV,HYDERABAD vs. INCOME TAX OFFICER, WARD-14(1), HYDERABAD

ITA 1005/HYD/2024Status: DisposedITAT Hyderabad24 February 2025AY 2018-19Bench: SHRI LALIET KUMAR, HON’BLE (Judicial Member), SHRI G. MANJUNATHA, HON’BLE (Accountant Member)8 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee JV is eligible to claim credit for the TDS deducted on gross contract receipts. The Assessing Officer and CIT(A) erred in withdrawing the TDS credit.

What were the facts?

A Joint Venture (JV) received contract payments from North-East Frontier Railway, from which TDS was deducted. The JV distributed the work and receipts to its constituent partners, declaring nil profit. The Assessing Officer denied TDS credit to the JV, stating it should be claimed by the constituent partners.

What were the issues?

Whether the Joint Venture is eligible to claim credit for TDS deducted on contract receipts when the work was executed by its constituent partners.

Which sections of the Income-tax Act were involved?

Section 194C,Section 238,Section 199

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD BENCHES “A” , HYDERABAD

Before: SHRI LALIET KUMAR, HON’BLE & SHRI G. MANJUNATHA, HON’BLE

For Appellant: Shri GVN Hari, Advocate
For Respondent: Shri Srinath Sadanala, Sr.DR
Hearing: 06.02.2025Pronounced: 24.02.2025

PER MANJUNATHA, G. A.M.

This appeal filed by the assessee is directed against the order of the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 08.08.2024, pertaining to A.Y.2018-19. The assessee has raised the following grounds :

2 “1. The order of the learned Commissioner of Income Tax (Appeals) is contrary to the facts and also the law applicable to the facts of the case.

2.

The learned Commissioner of Income Tax (Appeals) is not justified in upholding the denial of credit for TDS of Rs.5,20,58,733 by the assessing officer.

3.

The learned Commissioner of Income Tax (Appeals) ought to have appreciated tha

The order continues below.

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