2023 (4) TMI 638

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....ASAD For the Petitioner : (By Sri. Madhusudhan U A., Advocate) For the Respondents (By Sri. K.V. Aravind And Sri. M. Dilip, Advocates) ORDER The petitioner has impugned the first respondent's order dated 14.09.2022 [Annexure-A] under Section 119[2][b] of the Income Tax Act, 1961 [for short, 'IT Act']. The first respondent by the impugned order has rejected the petitioner&#3....

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....dent, are heard for final disposal. 3. The petitioner has entered into a Joint Development Agreement on 19.02.2018 with M/s. Radiance Realty Developers India Limited [the Developer] for development of residential properties in Chennai. The Developer has paid advances and deducted a sum of Rs. 18,54,000/- as TDS. Though this receipt and deduction is reflected in Form 26AS for the assessment year....

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....ly on the ground that the petitioner has not filed revised ROI for the assessment year 2018-19. 5. On perusal of the petitioner's application, it cannot be said that the petitioner has asked for condonation of delay in filing the revised ROI which is admittedly permissible under Section 139(5) of the IT Act. It is also not disputed that if the petitioner could establish sufficient cause for....

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....- under Section 195A of the IT Act is reflected in the corresponding Form 26AS filed but the TDS is not claimed under the impression that it is not required as the deduction is towards advance as against income which is realized only with the sale of the apartments when capital gains are offered during the assessment year 2021-22. The petitioner has declared the transaction, and a strong case of b....