M/S YASKAWA INDIA PVT LTD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

Per Shri A.K. Garodia, Accountant Member This appeal is filed by the assessee and the same is directed against the assessment order dated 26.09.2017 passed by the AO u/s. 143(3) r.w.s. 144C(13) and 263 of IT Act, 1961 for Assessment Year 2013-14. 2. The assessee has raised as many as 7 grounds of appeal including one corporate tax ground and in addition to that, the assessee has also raised an additional ground. In course of hearing before us, it was submitted by ld. AR of assessee that the TP issue has been resolved under MAP and the assessee is not interested in pressing the ground raised by the assessee in respect of corporate tax issue raised in the original grounds. It was submitted by ld. AR of assessee that the assessee is interested in pressing only the additional ground and the remaining grounds are not pressed. Accordingly all the grounds of appeal except the additional ground are rejected as not pressed. The additional ground raised by the assessee reads as under. “1. The Appellant submits that the credit for TDS of Rs.13,52,859/- and advance tax payment of Rs.20,00,000/- for AY 2013-14 should be granted while determine the refund. The Appellant prays accordingly.”

Hence we restore this matter back to the file of AO for fresh decision on this aspect and to the extent the assessee is able to establish regarding payment of TDS and advance tax, credit for the same should be allowed to the assessee if not already allowed. This ground of appeal of assessee stands allowed for statistical purposes.