https://www.taxtmi.com/caselaws?id=62314 The Tribunal upheld the Commissioner's decision to grant full credit for TDS to the assessee, dismissing the revenue's appeal. The Tribunal emphasized that denying full credit to the certificate holder would create an unfair situation for co-owners without certificates. Refusing credit to other co-owners, despite the entire TDS being collected, while the certificate holder is not fully credited, would result in denial of rightful refunds. The amendment to section 199, allowing adjustment of TDS among co-owners, was effective from the assessment year 1997-98 onwards. en-us Fri, 22 Sep 2006 00:00:00 +0530 Wed, 19 Jan 2011 12:31:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62314 The Tribunal upheld the Commissioner's decision to grant full credit for TDS to the assessee, dismissing the revenue's appeal. The Tribunal emphasized that denying full credit to the certificate holder would create an unfair situation for co-owners without certificates. Refusing credit to other co-owners, despite the entire TDS being collected, while the certificate holder is not fully credited, would result in denial of rightful refunds. The amendment to section 199, allowing adjustment of TDS among co-owners, was effective from the assessment year 1997-98 onwards. Case-Laws Income Tax Fri, 22 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62314