TaxTMI 
TaxTMI 
2022 (12) TMI 1279
X X X X Extracts X X X X
X X X X Extracts X X X X
....order dated 16/11/2021 passed for the assessment year 2018-19 & 2019-20. Since common issues are involved in both the appeals and the consideration, the same are being taken up for consideration together. 2. The assessee has taken the following grounds of appeals: Assessment year 2018-19 Grounds of Appeal Tax effect relating each Ground of appeal 1 On the facts and circumstances of the case as well as law on the subject, the learned commissioner of Income-Tax (Appeals) has erred in confirming disallowed TDS credit. 8,37,421/- 2 On the facts and circumstances of the case as well as law on the subject, the learned commissioner of Income-Tax (Appeals) has erred in confirming order u/s 143(1), disallow....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e as well as law on the subject, the learned commissioner of Income-Tax (Appeals) has erred in confirming disallowed TDS credit. 3,62,414/- 2 On the facts and circumstances of the case as well as law on the subject, the learned commissioner of Income-Tax (Appeals) has erred in confirming order u/s 143(1), disallowing TDS credit on contentious ground. 3 On the facts and circumstances of the case as well as law on the subject, the learned commissioner of Income-Tax (Appeals) has erred in not dealing with appellant's contention that in case of percentage completion method, exact correlation between amount offered for the tax for the year and TDS for the year cannot be correlated. 4 On the facts and ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....imed while filing the return of income. The counsel for the assessee further submitted that when a particular income is received by the assessee after deduction of TDS and the said TDS has been duly deposited with the Government and the assessee has received the requisite certificate to this effect, then on production of such certificate, assessee becomes entitled to credit of TDS, even if the assessee has not directly offered the said income to tax. In support of the contention, the counsel for the assessee placed reliance on certain judicial precedents in support. In response, DR placed reliance upon the orders passed by the AO and Ld. CIT(Appeals) respectively. 4. We have heard the rival contentions and perused the material on record.....
X X X X Extracts X X X X
X X X X Extracts X X X X
....the percent completion method while TDS was deducted at the time of education of sale deed, the income presumably would be offered to tax either in the same year or in any of the earlier years) and the assessee is able to correlate the income offered to tax with the TDS deducted, the assessee is eligible for credit of TDS. In the case of Supreme Renewable Energy Ltd.[2010] 124 ITD 394 (Chennai), ITAT held that when a particular income is received by assessee after deduction of tax at source and said TDS has been duly deposited with Government and assessee has received requisite certificate to this effect, then on production of said certificate assessee becomes entitled to credit of TDS, even if assessee has not directly offered said income ....