https://www.taxtmi.com/caselaws?id=406799 The appeal involved the denial of credit for tax deducted at source by the Assessing Officer for the assessment year 2014-15. The Income-tax Settlement Commission's order directing the AO to compute tax payable after giving credit for taxes already paid, including TDS, was upheld. The denial of TDS credit was deemed unjustified, and the CIT(A) directed the AO to allow credit for TDS amounting to Rs. 70.53 lakh in determining the refund due to the assessee. The appeal was dismissed, affirming the CIT(A)'s decision, clarifying the application of section 240 of the Income-tax Act regarding refunds and the treatment of TDS in refund computations. en-us Thu, 22 Apr 2021 00:00:00 +0530 Fri, 23 Apr 2021 21:04:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406799 The appeal involved the denial of credit for tax deducted at source by the Assessing Officer for the assessment year 2014-15. The Income-tax Settlement Commission's order directing the AO to compute tax payable after giving credit for taxes already paid, including TDS, was upheld. The denial of TDS credit was deemed unjustified, and the CIT(A) directed the AO to allow credit for TDS amounting to Rs. 70.53 lakh in determining the refund due to the assessee. The appeal was dismissed, affirming the CIT(A)'s decision, clarifying the application of section 240 of the Income-tax Act regarding refunds and the treatment of TDS in refund computations. Case-Laws Income Tax Thu, 22 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406799