HCC CP PL JV,HYDERABAD vs. INCOME TAX OFFICER, WARD-14(1), HYDERABAD
In the result, the appeal of the assessee is allowed
ITA 1005/HYD/2024[2018-19]Status: DisposedITAT Hyderabad24 Feb 2025AY 2018-19
Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Bleassessment Year: 2018-19 Hcc Cp Pl Jv, Vs. The Income Tax Officer, Ward –14(1), Hyderabad. Hyderabad. Pan : Aaaah5541G. (Assessee) (Respondent) Assessee By: Shri Gvn Hari, Advocate (Appeared Through Hybrid Mode) Revenue By: Shri Srinath Sadanala, Sr.Dr Date Of Hearing: 06.02.2025 Date Of Pronouncement: 24.02.2025
For Appellant: Shri GVN Hari, AdvocateFor Respondent: Shri Srinath Sadanala, Sr.DR
Section 194CSection 199Section 238Section 238(1)
works contract is not assessed in the hands of the assessee and therefore, the credit for TDS cannot be given in terms of Section 238(1) r.w. Rule 37BA(1) of the I.T Rules
1962. Therefore, called upon the assessee to explain as to why
TDS credit cannot be withdrawn ... response, the assessee submitted that the provisions of Section 238(1) of the Act, has no application because the assessee has treated gross contract receipts from NFR as its income and the entire contract amount distributed to constituent partners has been considered as its
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expenses and reported nil profits
