Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
The ITAT held that when the principal amount of income subjected to tax deducted at source (TDS) bears an element of uncertainty and irrecoverability, the TDS deposited by the deductor and reflected in Form 26AS of the deductee is deemed to be income received by the deductee u/s 198 of the Income Tax Act. The ITAT relied on the case of Y. Rathiesh [2014 (9) TMI 2 - ANDHRA PRADESH HIGH COURT] and directed the Assessing Officer to recompute the assessed total income by treating the TDS amount reflected in Form 26AS as income from other sources for the assessee. The Revenue's ground was partly allowed.
The ITAT held that when the principal amount of income subjected to tax deducted at source (TDS) bears an element of uncertainty and irrecoverability, the TDS deposited by the deductor and reflected in Form 26AS of the deductee is deemed to be income received by the deductee u/s 198 of the Income Tax Act. The ITAT relied on the case of Y. Rathiesh [2014 (9) TMI 2 - ANDHRA PRADESH HIGH COURT] and directed the Assessing Officer to recompute the assessed total income by treating the TDS amount reflected in Form 26AS as income from other sources for the assessee. The Revenue's ground was partly allowed.
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