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The ITAT allowed the assessee's appeal, directing the AO to grant credit for TDS purportedly deducted by the employer notwithstanding non-deposit by the employer due to bank-related constraints. The Tribunal held that the assessee is entitled to carry forward and receive benefit of the tax credit reflected as deducted by the employer for the relevant assessment years, and, where the Revenue had recovered or adjusted amounts in the interim, the assessee shall be entitled to refund. The Revenue is permitted to pursue statutory remedies against the employer for non-deposit of TDS in accordance with law. The appeal is disposed of in favour of the assessee.
The ITAT allowed the assessee's appeal, directing the AO to grant credit for TDS purportedly deducted by the employer notwithstanding non-deposit by the employer due to bank-related constraints. The Tribunal held that the assessee is entitled to carry forward and receive benefit of the tax credit reflected as deducted by the employer for the relevant assessment years, and, where the Revenue had recovered or adjusted amounts in the interim, the assessee shall be entitled to refund. The Revenue is permitted to pursue statutory remedies against the employer for non-deposit of TDS in accordance with law. The appeal is disposed of in favour of the assessee.
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