https://www.taxtmi.com/caselaws?id=779290 ITAT MUMBAI held that the appellant, an agent of a foreign principal, was entitled to claim TDS credit for the entire amount as reflected in Form 26AS under the provisions of s.199(3) and rule 37BA. The Tribunal found sub-rule (1) mandates credit to the person on whose payment TDS information is furnished (as in Form 26AS), while sub-rule (2)'s option to reassign credit by declaration to another person is permissive, not mandatory. As revenue did not dispute correct income reporting or tax compliance by the foreign shipping line, the balance TDS credit was allowed. en-us Mon, 15 Sep 2025 00:00:00 +0530 Fri, 03 Oct 2025 08:30:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779290 ITAT MUMBAI held that the appellant, an agent of a foreign principal, was entitled to claim TDS credit for the entire amount as reflected in Form 26AS under the provisions of s.199(3) and rule 37BA. The Tribunal found sub-rule (1) mandates credit to the person on whose payment TDS information is furnished (as in Form 26AS), while sub-rule (2)'s option to reassign credit by declaration to another person is permissive, not mandatory. As revenue did not dispute correct income reporting or tax compliance by the foreign shipping line, the balance TDS credit was allowed. Case-Laws Income Tax Mon, 15 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779290