TaxTMI 
TaxTMI 
TaxTMI 
2023 (4) TMI 27
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....r, action of Ld. CIT(A) in confirming the disallowance made by CPC and further making addition of Rs. 16,34,060/- on account of employee's contribution to ESI and EPF is not sustainable on various legal and factual ground. 3. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in taking a view that amendment in section 36(1)(va) of the Act is retrospective in nature. 4. That Ld. CIT(A) has erred in confirming the action of CPC by not allowing the claim of brought forward TDS of Rs.9,94,719/- as per Section 199 read with rule 37BA though the related income is properly declared in the Income Tax Return and was also appearing in previous Form 26AS of that earlier Assessment Year." 2. At the outset, L....
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.... relevant contents of the written submissions are reproduced as under:- "Ground No.4 - That Ld. CIT(A) has erred in confirming the action of CPC by not allowing the claim of brought forward TDS of Rs.9,94,719/- as per section 199 read with rule 37BA though the related income is properly declared in the Income Tax Return and was also appearing in previous Form 26AS of that earlier Assessment Year. During the year under consideration, appellant has made a claim of brought forward TDS in income tax return since income corresponding to brought forward TDS offered to tax in concerned assessment year only. But while processing the return of income by the CPC u/s 143(1) of the Income Tax Act, 1961 (copy enclosed), Brought forward TDS claim of....
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....ction (1) and sub-section (2) and also the assessment year for which such credit may be given. Relevant extract of Rule 37BA - Credit for tax deducted at source for the purposes of section 199 is as follows: (3) (i) Credit for tax deducted at source and paid to the Central Government, shall be given for the assessment year for which such income is assessable. ii) Where tax has been deducted at source and paid to the Central Government and the income is assessable over a number of years, credit for tax deducted at source shall be allowed across those years in the same proportion in which the income is assessable to tax. In the instant case, TDS of Rs. 9,94,719/- on the income of Rs. 4,97,35,943/- has already been deducted in AY 2....
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....appellant has duly taken care of the requirements of rule 37BA of Income Tax Rules, 1962 read with section 199 of the Income Tax Act, 1961 for carrying forward and brought forward of TDS. Further, the appellant has duly submitted the above table and explanation before the Hon'ble Commissioner of Income Tax (Appeals) but Hon'ble CIT(A) also rejected the claim of the appellant by stating that "The corresponding receipts of Rs.4,97,35,943/-, as against the carry forward TDS of Rs.9,94,719/- being claimed now, are not seen reflected over and above the receipts of F.Y. 2018-19 and the appellant has not furnished any breakup of gross receipts for F.Y. 2017-18 and 2018-19 to collate the details". In this regard, it is submitted that ....
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....d TDS Income as per Financials Income actually shown in Current AY ITR 44,58,03,844 Less: Income on which no TDS deducted 4,90,93,212 (A) Income on which TDS deducted 39,67,10,632 79,62,423 Income as per Form 26AS Income as appearing in form 26AS of AY 2019-20 excluding interest income 44,84,46,601 90,09,142 Less: Income as appearing in form 26AS in AY 2018-19 excluding interest income 5,17,35,969 10,34,719 (B) Income as per Form 26AS 39,67,10,632 79,74,423 TDS of Rs.12,000/- not claimed in ITR (A-B) - -12,000 From the above table, it can be fairly concluded that the corresponding income of Rs.4,97,35,943/-, as a....