ITAT allowed the appeal and directed the AO to give credit for...

ITAT allowed the appeal and directed the AO to give credit for tax deducted at source despite its deposit in the subsequent assessment year. The Tribunal held that the assessee properly declared the full value of consideration and long-term capital gain in AY 2022-23; the purchaser remitted the TDS in AY 2023-24 but the assessee filed Form 71 within the statutory period via the ITBA portal. Applying the matching principle, the AO must assess the income in AY 2022-23 as declared by the assessee and grant TDS credit in AY 2023-24 based on the uploaded Form 71. The denial of credit by lower authorities was set aside.

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