https://www.taxtmi.com/caselaws?id=387140 The Tribunal overturned the decision of the Commissioner of Income-tax (Appeals)-7, Pune, and directed the allowance of credit for tax deducted at source amounting to Rs. 8,41,050 for the assessment year 2011-12. The dispute centered around whether the benefit of TDS should be allowed in the year of recording income or in the year of TDS deposit. The Tribunal held that since the income on which TDS was deducted is assessable in the relevant year, the benefit of TDS should also be allowed in the same year, in accordance with Rule 37BA(3)(i) of the Income Tax Act. en-us Fri, 20 Sep 2019 00:00:00 +0530 Sat, 19 Oct 2019 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387140 The Tribunal overturned the decision of the Commissioner of Income-tax (Appeals)-7, Pune, and directed the allowance of credit for tax deducted at source amounting to Rs. 8,41,050 for the assessment year 2011-12. The dispute centered around whether the benefit of TDS should be allowed in the year of recording income or in the year of TDS deposit. The Tribunal held that since the income on which TDS was deducted is assessable in the relevant year, the benefit of TDS should also be allowed in the same year, in accordance with Rule 37BA(3)(i) of the Income Tax Act. Case-Laws Income Tax Fri, 20 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387140