TaxTMI 
TaxTMI 
2021 (10) TMI 902
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.... Tax Act 1961(In short the 'Act') dated 22.05.2018 framed by ACIT (CPC), Bangalore. The Assessee namely Anil Kharia has raised following grounds of appeal in ITANo.123 /Ind/2017: 1. That on the facts & in the circumstances of the case the Learned CIT (Appeal) (I), Indore has erred in not allowing credit of claimed TDS of Rs. 2,52,431/- on bank interest which was already offered during declaration in IDS 2016 but credit of TDS amount was not allowed. Hence claimed in regular return, however credit of TDS was also disallowed after ignoring to the explanation regarding relevant assessee not claimed in their individual return. 2.That on the facts & in the circumstances of the case the learned CITCA) has erred in not allowin....
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....are common and relate to same group of assessees, at the request of all the parties these appeals were heard together and are being disposed of by this common order for sake of convenience and brevity. 3. As the facts of both the appeals are same and so is the issue raised before us will adjudicate the common issue raised in the instant two appeals on the basis of facts in the case of Anil Kharia in ITANo.123/Ind/2020 and our decision in this appeal shall be apply mutatis mutandis on the appeal of the assessee namely Tripti Kharia in ITANo.124/Ind/2020. 4. Brief facts of the case as culled out from the records are that the assessee is an individual. There were some unaccounted investments in fixed deposit held with bank in the name of....
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....d in self-name at Rs. 48,06,488/- and the income disclosed in the name of son Satyanshu Kharia at Rs. 28,82,816/-. TDS credit for the tax deduction on the investments declared under IDS 2016 was not allowed. Assessee referred to the paper book dated 18.06.2012 and 4.08.2021 and also took us through the affidavit filed on page no.1 to 4, copy of the circular No. 25 & 27 dated 20th June 2016 and 14th July, 2016 placed at pages 5 to 13 of the paper book and other relevant details. Prayer was made for giving direction to allow the credit of TDS of Rs. 2,52,431/-. 7. Per contra ld. Departmental Representative (DR) vehemently argued supporting the order of ld. CIT(A). 8. We have heard rival contentions and perused the records placed before ....
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.... return. The amount declared under IDS 2016 by the assessee is Rs. 76,89,304/- which comprises of two parts, sum of Rs. 48,06,488/- pertaining to assessee and the remaining amount of Rs. 28,82,816/- relates to assessee's son Satyanshu Kharia. The amount being declared under IDS is not in dispute. Credit for TDS has not been allowed only for the reason that PAN No. of the payee is not mentioned in the certificate due to which tax credit is not appearing in the income tax portal. It is an evident fact that since the investments was unaccounted, assessee had not given the PAN to the Bank where such investments were made. However, since the assessee has declared the income under IDS 2016, now the assessee is eligible to get credit for TDS of Rs....