https://www.taxtmi.com/caselaws?id=762940 The ITAT Mumbai held that when TDS is deducted and reflected in Form 26AS, the corresponding interest income must be included in the assessee's return under "income from other sources" per section 198. The assessee cannot selectively apply different accounting methods by claiming TDS credit while refusing to show the related interest income due to accounting system differences. The tribunal directed that if an assessee takes TDS as tax paid, the corresponding income must be included in the return, preventing cherry-picking between cash and mercantile accounting systems for tax advantages. en-us Fri, 27 Sep 2024 00:00:00 +0530 Tue, 10 Dec 2024 08:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762940 The ITAT Mumbai held that when TDS is deducted and reflected in Form 26AS, the corresponding interest income must be included in the assessee's return under "income from other sources" per section 198. The assessee cannot selectively apply different accounting methods by claiming TDS credit while refusing to show the related interest income due to accounting system differences. The tribunal directed that if an assessee takes TDS as tax paid, the corresponding income must be included in the return, preventing cherry-picking between cash and mercantile accounting systems for tax advantages. Case-Laws Income Tax Fri, 27 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762940