Credit for TDS will be given in the Assessment Year for which such income is assessable, clarifies ITAT

Last updated: 22 July 2021
Quick Summary
The Income Tax Appellate Tribunal (ITAT) has clarified that credit for Tax Deducted at Source (TDS) should be given in the Assessment Year for which the income is assessable. This ruling came about in a case where an assessee received TDS certificates after the deadline for filing returns. The ITAT's decision ensures that taxpayers receive credit for TDS in the correct financial period.

Court :
ITAT Bangalore

Brief :
This is an appeal by the Revenue against the order dated 30.01.2013 of CIT(Appeals)-III, Bengaluru, relating to Assessment Year 2007-08.

Citation :
ITA No.547/Bang/2013

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Broadcasts
  • Daily E-Newsletter
  • Unlimited Judgements Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits

Already a PRO member? Login here for an ad-free experience.

 
Comments


Recent Judgments :

  1. Typographical Error in the SCN Cannot Be a Shield for the Assessee Who Participated in the Proceedings Without Raising Any Objection
  2. Penalty on partners under Section 122(1A) of the CGST Act upheld where complicity in fake invoicing and hawala-linked ITC fraud stands established
  3. Forest Development Tax Demand, Collection and Refund Subject to Final Outcome of Pending Cases
  4. SC : Extended Limitation Cannot Be Invoked Where Department Was Aware of Valuation Facts
  5. SC : Selling Shares While in Possession of UPSI Constitutes Insider Trading Even if No Profit Is Made
  6. SC : Laser Imagers Compatible with Machines Under Different Tariff Headings Classifiable Under CTH 9033
  7. Education Consultancy Services to Foreign Universities Not Intermediary Services; Refund of IGST on Export of Services Allowed
  8. Penalty Cannot Be Confirmed Beyond What is Specified in Statutory Form GST DRC-01
  9. Non-Supply of Field Visit Report Vitiates Rejection of Revocation Application
  10. Alternative Remedy before GSTAT to be Exhausted Despite Allegation that Adjudication Travelled Beyond SCN

View More Judgments »


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member B L BhojwaniB L BhojwaniPro Member CA CS DISA FAFD AJAY SINGHCA CS DISA FAFD AJAY SINGHPro Member J.VijaiJ.VijaiPro Member Ashish ChawlaAshish ChawlaPro Member s prasads prasad
Subscribe to Pro
Join an elite circle of professionals

Browse by Category