PUSHPANJALI MEDI INDIA (P) LTD. ,KOLKATA vs. ITO,WARD-2(1),KOLKATA. , KOLKATA

ITA 859/KOL/2023Status: DisposedITAT Kolkata22 April 2024AY 2022-23Bench: SHRI MANISH BORAD (Accountant Member), SHRI SONJOY SARMA (Judicial Member)4 pages
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What did the Tribunal hold?

The Tribunal held that as per the amalgamation scheme, all taxes including TDS belonging to the transferor company from the appointed date are to be treated as belonging to the transferee company. Therefore, the assessee is entitled to the TDS credit.

What were the facts?

The assessee company claimed credit for TDS amounting to Rs. 6,12,488/- belonging to a transferor company that had amalgamated with it. The amalgamation scheme was approved by the NCLT with an appointed date of April 1, 2020.

What were the issues?

Whether TDS credit of an amalgamated transferor company can be claimed by the transferee company post amalgamation, as per the approved scheme.

Which sections of the Income-tax Act were involved?

Section 250,Section 154,Section 143(1)

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Income Tax Appellate Tribunal, “SMC” BENCH KOLKATA

Before: SHRI MANISH BORAD & SHRI SONJOY SARMA

For Appellant: Shri Abhishek Bansal, AR
For Respondent: Shri Subhro Das, Addl. CIT
Pronounced: 22.04.2024

PER SONJOY SARMA, JUDICIAL MEMBER:

Both these appeals have been preferred by the assessee against the separate orders of the Ld. Commissioner of Income-tax, Appeals, National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as ‘the CIT(A)’], both dated 30.07.2023 passed u/s. 250 of the Income- tax Act, 1961 hereinafter referred to as ‘the Act’ passed against the intimation u/s. 154 r.w.s. 143(1) of the Act for the AYs 2021-22 and 2022-23 respectively. Since grounds are common and facts are identical, we dispose of both the appeals by this c

The order continues below.

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