https://www.taxtmi.com/caselaws?id=798484 TDS credit under section 199 read with Rule 37BA(2) belongs to the person in whose hands the related income is assessable. Where a trust's funds were invested through its trustee, the interest income was offered and assessed in the trust's hands, and tax was deducted in the trustee's PAN, the trust remains the beneficial owner entitled to the credit. The declaration under the proviso to Rule 37BA(2) is procedural and does not defeat that substantive entitlement where the income has been returned to tax and the tax deduction is undisputed. en-us Tue, 25 Aug 2026 00:00:00 +0530 Tue, 08 Sep 2026 08:42:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798484 TDS credit under section 199 read with Rule 37BA(2) belongs to the person in whose hands the related income is assessable. Where a trust's funds were invested through its trustee, the interest income was offered and assessed in the trust's hands, and tax was deducted in the trustee's PAN, the trust remains the beneficial owner entitled to the credit. The declaration under the proviso to Rule 37BA(2) is procedural and does not defeat that substantive entitlement where the income has been returned to tax and the tax deduction is undisputed. Case-Laws Income Tax Tue, 25 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798484