2022 (11) TMI 197

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....ondent : Sh. Kanav Bali, Sr. DR ORDER PER YOGESH KUMAR U.S., JM The appeal has been filed by the assessee against the order dated 30/08/2019 passed by the Ld.CIT(A) -1, New Delhi for Assessment Year 2013- 14. 2. The grounds of appeal are as under:- "1. That under the facts and circumstances, addition of Rs. 11,89,532/- for interest on FDR is unjustified in law as well as on me....

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....as participated in the assessment proceedings. The assessment order came to be passed on 15/03/2016 by making an addition of Rs. 65,00,000/- as undisclosed credit u/s 68 of the Act and a sum of Rs. 11,89,532/- being interest earned on the fixed deposits, which have been shown in the profit and loss account, therefore, held the said income of the assessee under the head 'income from other sources',....

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....Year 2017-18, after the order of Hon'ble High Court dated 15/11/2016, which has been physically received in the Assessment Year 2017-18. The Ld. Counsel further submitted that the assessee has offered for taxation of the said interest in the Assessment Year 2016-17 and Assessment Year 2017-18. Therefore, the assessee is entitled for TDS Credit of such amount. 7. Per contra, the Ld. DR has r....

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....ame was subjected to tax in AY 2017-18. Such being the case, there cannot be taxation for the same amount in the year under consideration i.e. Assessment Year 2013-14, which amounts to double taxation . In view of the same, the addition made in the Assessment year 2013-14 deserves to be deleted. Accordingly, we allow Ground No. 1 of the Assessee. 10. So far as Ground No. 2 is concerned, the ass....