https://www.taxtmi.com/caselaws?id=445047 ITAT Indore allowed assessee company's appeal regarding TCS credit denial under section 143(1). The company conducted liquor business using licenses issued to individual directors/associates, with TCS appearing in individual PAN accounts rather than company's account. ITAT held that TCS credit should be allowed to the entity actually conducting business and offering income to tax, not necessarily the license holder. The matter was remanded to AO for verification that the company conducted actual transactions, offered corresponding income to tax, and individual license holders provided undertaking not to claim TCS credit, preventing double claims. en-us Thu, 12 Oct 2023 00:00:00 +0530 Mon, 30 Oct 2023 08:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445047 ITAT Indore allowed assessee company's appeal regarding TCS credit denial under section 143(1). The company conducted liquor business using licenses issued to individual directors/associates, with TCS appearing in individual PAN accounts rather than company's account. ITAT held that TCS credit should be allowed to the entity actually conducting business and offering income to tax, not necessarily the license holder. The matter was remanded to AO for verification that the company conducted actual transactions, offered corresponding income to tax, and individual license holders provided undertaking not to claim TCS credit, preventing double claims. Case-Laws Income Tax Thu, 12 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445047