Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
ITAT allowed the appeal, directing the AO to grant tax credit for TDS reflected in Form 26AS. The Tribunal held that Form 26AS corroborates the assessee's claimed TDS entries and that no mismatch exists as alleged by CPC; consequently, denial of credit lacked justifiable basis. The AO is ordered to recognize the TDS entries in the assessee's return of income and adjust the tax liability accordingly. The assessee's claim for credit is sustained and the assessment is to be revised consistent with this direction.
ITAT allowed the appeal, directing the AO to grant tax credit for TDS reflected in Form 26AS. The Tribunal held that Form 26AS corroborates the assessee's claimed TDS entries and that no mismatch exists as alleged by CPC; consequently, denial of credit lacked justifiable basis. The AO is ordered to recognize the TDS entries in the assessee's return of income and adjust the tax liability accordingly. The assessee's claim for credit is sustained and the assessment is to be revised consistent with this direction.
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