Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The ITAT held that the assessee is entitled to credit for TDS deducted on the sale consideration of property registered in the name of the assessee's wife, as the income from the sale was declared and accepted in the assessee's return. The tribunal emphasized that Section 199 read with Rule 37BA(2) treats TDS paid as tax payment on behalf of the owner whose income is charged to tax. Non-compliance with procedural aspects under Rule 37BA by the wife does not preclude the assessee from claiming TDS credit. Additionally, since the wife did not claim the TDS credit in her return, the credit rightfully belongs to the assessee. The AO was directed to grant the TDS credit to the assessee, allowing the appeal.
The ITAT held that the assessee is entitled to credit for TDS deducted on the sale consideration of property registered in the name of the assessee's wife, as the income from the sale was declared and accepted in the assessee's return. The tribunal emphasized that Section 199 read with Rule 37BA(2) treats TDS paid as tax payment on behalf of the owner whose income is charged to tax. Non-compliance with procedural aspects under Rule 37BA by the wife does not preclude the assessee from claiming TDS credit. Additionally, since the wife did not claim the TDS credit in her return, the credit rightfully belongs to the assessee. The AO was directed to grant the TDS credit to the assessee, allowing the appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
