https://www.taxtmi.com/caselaws?id=762391 The Appellate Tribunal ITAT Surat upheld the decision of the Commissioner of Income Tax (Appeals) regarding the disallowance of TDS credit for the assessment year 2016-17. The Tribunal agreed with the CIT(A)'s interpretation of Rule 37BA(3) of the Income-tax Rules, which stipulates that TDS credit can only be granted for income assessable in the relevant assessment year. Consequently, the Tribunal directed the Assessing Officer to withdraw TDS credit from the earlier year and allocate it to the appropriate year, affirming the CIT(A)'s decision and providing clarity on TDS credit allocation. The appeal was allowed for statistical purposes. en-us Thu, 28 Nov 2024 00:00:00 +0530 Sat, 30 Nov 2024 08:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762391 The Appellate Tribunal ITAT Surat upheld the decision of the Commissioner of Income Tax (Appeals) regarding the disallowance of TDS credit for the assessment year 2016-17. The Tribunal agreed with the CIT(A)'s interpretation of Rule 37BA(3) of the Income-tax Rules, which stipulates that TDS credit can only be granted for income assessable in the relevant assessment year. Consequently, the Tribunal directed the Assessing Officer to withdraw TDS credit from the earlier year and allocate it to the appropriate year, affirming the CIT(A)'s decision and providing clarity on TDS credit allocation. The appeal was allowed for statistical purposes. Case-Laws Income Tax Thu, 28 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762391