https://www.taxtmi.com/caselaws?id=765336 ITAT Pune allowed assessee's claim for TCS credit on minor child's income that was clubbed with assessee's income. The tribunal held that despite statutory amendment taking effect from January 1, 2025, denying TCS credit would cause undue hardship as revenue cannot retain tax without providing credit to anyone. Citing Allied Motors case, the tribunal ruled the amendment should be treated as retrospective to remedy unintended consequences and prevent depriving assessee of legitimate TCS credit where income was already taxed. AO directed to allow TDS/TCS credit of minor child to assessee. en-us Mon, 27 Jan 2025 00:00:00 +0530 Wed, 29 Jan 2025 10:37:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765336 ITAT Pune allowed assessee's claim for TCS credit on minor child's income that was clubbed with assessee's income. The tribunal held that despite statutory amendment taking effect from January 1, 2025, denying TCS credit would cause undue hardship as revenue cannot retain tax without providing credit to anyone. Citing Allied Motors case, the tribunal ruled the amendment should be treated as retrospective to remedy unintended consequences and prevent depriving assessee of legitimate TCS credit where income was already taxed. AO directed to allow TDS/TCS credit of minor child to assessee. Case-Laws Income Tax Mon, 27 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765336