2013 (10) TMI 1119

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....inst the order dated 6.9.2011 of CIT(A) for the assessment years 2007-08. The dispute raised by the assessee in this appeal is regarding credit of TDS and allowability of interest on interest u/s 244 of the Income Tax Act. 2. The facts in brief are that the assessee in the assessment year 2007-08 had claimed total TDS of Rs. 215163912. Claim of Rs. 1,65,20,93,44/- has been made in the original re....

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.... AO was not allowing for the credit of TDS because of discrepancy with respect to credit shown in the form No. 26AS which is not correct. It was argued that the credit of TDS has to be given on the basis of TDS certificates and in case TDS certificates are not available, on the basis of details and evidence furnished by the assessee regarding deduction of tax at source. Reliance for the said propo....

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....n in the form 26AS. The learned DR on the other hand placed reliance on the orders of authorities below. 4. We have perused the records and considered the matter carefully. The dispute is regarding credit for TDS. The credit of TDS has been denied to the assessee on the ground that the claim for TDS was no reflected in the computer generated form 26AS. The difficulty faced by the tax payer in the....

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....ent is required to give credit for TDS once valid TDS certificate had been produced or even where the deductor had not issued TDS certificates on the basis of evidence produced by assessee regarding deduction of tax at source and on the basis of indemnity bond. We, therefore modify the order passed by CIT(A) on this point and direct the AO to proceed in the manner discussed above to give the credi....