LEC-TPL UJV,MUMBAI vs. INCOME TAX OFFICER WARD 41(1)(2), MUMBAI

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ITA 3748/MUM/2024Status: DisposedITAT Mumbai07 November 2024AY 2021-229 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee is entitled to claim the refund of TDS deducted from the advance payment, especially since the contract was terminated and the money refunded. The AO was directed to allow the credit after verifying no refund was claimed by HPCL.

What were the facts?

The assessee claimed credit for TDS amounting to Rs. 22,63,023/- which was deducted on advance payments received from HPCL for a cancelled project. The CPC granted only a partial credit, leading to the appeal.

What were the issues?

Whether the assessee is entitled to claim credit for TDS deducted on advance payments when the underlying contract is cancelled and the advance is refunded, despite the deductor not revising its TDS return.

Which sections of the Income-tax Act were involved?

Section 199,Section 237

AI-generated summary — verify with the full judgment below

आदेश की प्रतितलति अग्रेतिि/Copy of the Order forwarded to : 1. अपीलार्थी/ The Appellant प्रत्यर्थी/ The Respondent. 2. 3. आयकर आयुक्त / CIT 4. विभागीय प्रविविवि, आयकर अपीलीय अविकरण DR, ITAT,

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