Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
Page of 4807
Press 'Enter' after typing page number.
5361 to 5380 of 96140 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
TDS credit is available only to the person in whose hands the related income is assessable. The assessee, an APMC commission agent, admitted that the purchases and sales on which tax was deducted were those of agriculturists or farmers, not his own sales income. On that factual basis, the ITAT held that TDS reflected in the assessee's PAN was a wrong deduction entry and could not be claimed by him without corresponding income being offered to tax. The proper remedy was correction of the TDS statement by the deductor or issue of the credit in the correct names. The denial of TDS credit was upheld and the appeal was dismissed.
TDS credit is available only to the person in whose hands the related income is assessable. The assessee, an APMC commission agent, admitted that the purchases and sales on which tax was deducted were those of agriculturists or farmers, not his own sales income. On that factual basis, the ITAT held that TDS reflected in the assessee's PAN was a wrong deduction entry and could not be claimed by him without corresponding income being offered to tax. The proper remedy was correction of the TDS statement by the deductor or issue of the credit in the correct names. The denial of TDS credit was upheld and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
