2024 (7) TMI 1532

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....i (JCIT)- Ld. Sr. DR For the Respondent : Shri S.P. Chidambaram (Advocate)- Ld.AR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. By way of this miscellaneous application, the revenue seeks our indulgence in Tribunal order passed in ITA No. 365/Chny/2023 on 23-01- 2024. The bench, in para-5 of the order, noted that the assessee received royalty payment from the Indian entity. The assessee wo....

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....y mechanism with the assessee to claim the refund of the same would be through filing of Income Tax Return which is the correct way of claiming the TDS credit. 2. In the application, the revenue submit that as per Sec. 199 r/w Sec. 190 & 191 and Rule 37BA, TDS credit can be allowed only in the assessment year in which the corresponding income is offered to tax. As there is no income accrued in re....

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....that the only mechanism of claiming refund is by filing of ITR is a mistake apparent from record. The Ld. AR, on the other hand, submitted that the application merely seek review of the order. 3. After hearing rival contentions and after going through the application as well as Tribunal order, we find that considering the factual matrix, the bench arrived at a conclusion that income to the extent....