Excess credit

[shyamal roychowdhury]

My Client Submitted the income tax return for 2006-2007 with all relevent Papers & valid Returnswith all TDS CERTIFICATES IN original. Now he clamed sat Rs ilakh and actually valid TDS CERTIFICATE enclosed for the relevent year was say Rs 1.5 Lakh. While checking the TDS certificate it amounted to say Rs 1.50 lakhs . The Assessing officer says since your claim is Rs 1lakh , credit is given for for 1lakh . He refuses to take recognition of excess TDS CERTIFICATE . I understand that ther is dome decision either tribunal or some court that Tax certificates when valid But for clarical mistake credit cannot be denied . Can u pl give some indication . Further if the time for filling revised return expires what remedy is available for recovery of due of tax deducted. Thanks S. ROYCHOWDHURY

[Guest]

Yashpal Sahni 211 CTR 1 (Bom - HC)) Escorts Ltd.; 15 SOT 368 (Delhi ITAT) The above cases might be of help

AI Summary

TDS credit: whether a valid certificate secures credit despite a lower claim in the return and available remedies. Dispute concerns entitlement to TDS credit where the Assessing Officer allowed only the amount claimed in the return and refused recognition of the excess shown on a valid TDS certificate; the core issue is whether a valid certificate entitles the taxpayer to credit despite a clerical or claim discrepancy, and what remedies remain if the period for filing a revised return has expired, with citations to Yashpal Sahni and Escorts Ltd. as potentially relevant authorities.