2023 (2) TMI 631

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....EEM AHMED, ACCOUNTANT MEMBER: The captioned appeal has been filed at the instance of the Assessee against the order of the Learned Commissioner of Income Tax(Appeals), Vadodara, dated 30/08/2022arising in the matter of assessment order passed under s.143(3) of the Income Tax Act, 1961 (here-in-after referred to as "the Act") relevant to the Assessment Year 2016-17. 2. The assessee has raised....

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....the party in the year in which such advance was offered to tax. 4. Briefly stated facts are that the assessee in the present case is a partnership firm and engaged in the business of Civil Road construction. The assessee in the year under consideration has executed work contract of Rs.4,44,48,833/- which was offered to tax. However, the party has also given the advance of Rs.3.50 crores to the ....

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....the Financial Year 2016-17. Therefore, the assessee prayed to allow the benefit of TDS credit in the Financial Year 2016-17. However, the Ld.CIT(A), rejected the claim of the assessee by observing as under: 6.2 Though the appellant claims that the AO was not justified in making such assessment, he never put forth any reason for claiming so. Even during current appellant proceedings, the a....

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.... tax. However, it was submitted that the amount of advance has been offered to tax in the Financial Year 2016-17 corresponding to AY 2017-18 and therefore the amount of TDS credit should be allowed in the AY 2017-18. 9. On the other hand the Ld. DR vehemently supported the order of the authorities below. 10. I have heard the rival contentions of both the parties and perused the materials ava....