https://www.taxtmi.com/caselaws?id=465372 TDS credit was denied in processing u/s 143(1) on the ground that the corresponding income was not offered in the assessee's hands in the relevant year. The ITAT held that, although s.199 generally links TDS credit to the year of assessability of the related income, credit cannot be refused where the assessee's Form 26AS reflects the TDS and the related income has been offered to tax by an associated entity, provided there is no double claim. Relying on the principle underlying Rule 37BA and HC authority recognising that TDS credit need not invariably remain with the deductee, the ITAT directed the AO to allow TDS credit after verifying that the associated entity taxed the income and has not claimed the same TDS; appeal allowed. en-us Tue, 30 Jul 2024 00:00:00 +0530 Thu, 18 Dec 2025 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465372 TDS credit was denied in processing u/s 143(1) on the ground that the corresponding income was not offered in the assessee's hands in the relevant year. The ITAT held that, although s.199 generally links TDS credit to the year of assessability of the related income, credit cannot be refused where the assessee's Form 26AS reflects the TDS and the related income has been offered to tax by an associated entity, provided there is no double claim. Relying on the principle underlying Rule 37BA and HC authority recognising that TDS credit need not invariably remain with the deductee, the ITAT directed the AO to allow TDS credit after verifying that the associated entity taxed the income and has not claimed the same TDS; appeal allowed. Case-Laws Income Tax Tue, 30 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465372