SHRI PAWAN KUMAR RUIA. ,KOLKATA vs. DCIT,CIR- 30, KOLKATA. , KOLKATA

ITA 1197/KOL/2023Status: DisposedITAT Kolkata23 September 2024AY 2014-15Bench: Shri Sanjay Garg (Judicial Member), Shri Sanjay Awasthi (Accountant Member)7 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee cannot be penalized for the employer's failure to deposit the deducted TDS. The credit for TDS should be allowed once it is deducted, irrespective of its subsequent deposit by the deductor.

What were the facts?

The assessee claimed credit for TDS of Rs. 95,80,949/- which was deducted by the employer, Falcon Tyres Limited. However, the employer failed to deposit this amount into the government treasury as the company went into liquidation. The Assessing Officer and CIT(A) denied the credit.

What were the issues?

Whether the assessee is entitled to claim credit for TDS deducted by the employer when the employer failed to deposit the same with the government.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH KOLKATA

Before: Shri Sanjay Garg & Shri Sanjay Awasthi

संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg, Judicial Member:

The present appeal has been preferred by the assessee against the order dated 11.09.2023 of the National Faceless Appeal Centre [hereinafter referred to as ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’).

2.

The sole issue involved in this appeal is relating non-credits of TDS of Rs.95,80,949/- out of total TDS claim of Rs.2,18,82,526/-.

3.

The brief facts of the c

The order continues below.

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