2019 (11) TMI 1811

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ivate Limited which is a wholly owned Subsidiary of this Company w.e.f. 01.04.2012 as ordered by the Hon'ble High Court of Andhra Pradesh in Company Petition No.182/2013 dated 14.11.2013 and the Company Application No.815/2013 in the case of M/s Decatrend Technolgies Pvt. Ltd. and M/s Serve All Enterprise Solutions Ltd. The amalgamated company's name was subsequently changed to M/s CES Pvt. Ltd. While filing the return of income for relevant A.Y., the assessee company had taken into consideration the income of both the amalgamating company and the amalgamated company and also had claimed the credit for advance tax and TDS credit of both the companies prior to the amalgamation. During the assessment proceedings u/s 143(3) of the Income Tax A....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ax and TDS Credit of M/s. Decatrend Technologies Pvt Ltd and M/s. CES Private Ltd have been taken into consideration while arriving at the total Tax payable by the assessee 'in its computation, while the income of both the companies was clubbed in the assessee's hands. 4. The Ld. CIT(A) ought to have appreciated that the AO erred in allowing the credit to advance tax for the lesser amount of Rs. Rs.80,00,000/ - as against the actual amount of Rs. 1,40,00,000/- Tax effect: Rs.60,00,000/- 5. The Ld. CIT(A) ought to have appreciated that AO erred in allowing credit to the TDS only to the extent of Rs. 5,92,604/- as against the actual amount of Rs. 23,12,919/-* Tax effect: Rs.17,20,315/- 6. The app....