ANSHUL ANIL GOEL,PUNE vs. DY. COMMISSIONER OF INCOME TAX (1) 1, PUNE

ITA 2537/PUN/2024Status: DisposedITAT Pune27 January 2025AY 2024-25Bench: SHRI R. K. PANDA (Vice President), MS. ASTHA CHANDRA (Judicial Member)1 pages
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What did the Tribunal hold?

The Tribunal held that since the minor's income was clubbed with the assessee's, the corresponding TCS collected should also be given credit to the assessee. The amendment allowing such credit was considered retrospective in effect to avoid undue hardship.

What were the facts?

The assessee claimed credit for Tax Collected at Source (TCS) amounting to Rs. 9,50,200/- collected in the name of his minor child, whose income was clubbed with the assessee's income. The CPC denied this claim during processing.

What were the issues?

Whether TCS collected in the name of a minor, whose income is clubbed with the parent, can be claimed as credit by the parent, especially when the relevant amendment is effective from a future date.

Which sections of the Income-tax Act were involved?

Section 206C,Section 64(1A)

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, PUNE BENCH “A”, PUNE

Before: SHRI R. K. PANDA & MS. ASTHA CHANDRA

For Appellant: Shri Sharad A Shah
For Respondent: Shri Ramnath P Murkunde

PER R. K. PANDA, VP :

This appeal filed by the assessee is directed against the order dated 27.11.2024 of the Ld. Addl./JCIT(A)-1, Chennai relating to assessment year 2024-

25.2.

Facts of the case, in brief, are that the assessee is an individual and filed his return of income on 30.07.2024 declaring total income of Rs.38,76,29,470/- and claimed total TDS of Rs.14,53,50,759/- and TCS of Rs.25,28,802/-. The break-up of TCS claimed by the assessee was as under: TCS of Rs.15,78,602/- collected for self TCS of Rs.9,50,200/- collected in the hands of his minor child whose income is clubbed in the income of the assessee.

2

3.

During the year under consideration, the minor son of the assessee namely Master Nishkarsh Goel made a foreign investment on which t

The order continues below.

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