TaxTMI 
TaxTMI 
2022 (5) TMI 1675
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....espect of the tax deducted during the Financial Year 2016‐17, but remitted to the Central Government and reflected in the Form‐26AS during the AY 2018‐19. Alongwith the appeal, assessee also preferred a Stay petition seeking stay of enforcement of the demand resulted on disallowance of the TDS credit. 2. Brief facts of the case are that the assessee is a company, involved in the business of executing civil contracts with various Government and non‐Governmental entities. During the FY.2016‐17, the assessee received Rs. 6,28,98,875/‐ on 18/03/2017, which they declared in their return of income on accrual basis and paid the taxes thereon. The Government department, however, failed to remit the TDS, though d....
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....2017‐18 is not a ground to claim the credit of TDS in the subsequent assessment year. 6. Assessee is, therefore, in appeal before us contending that as per the amendment of Section 199 of the Act, the words "for the assessment year for which such income is assessable" were dropped/deleted and, therefore, the mapping of TDS to the income is not at all the legal requirement. It is further submitted by the Ld.AR that the TDS should be treated as 'advance tax' and credit of TDS cannot be denied. On this premise, Ld.AR prayed that the refund of TDS amount of Rs. 12,57,976/‐ may be allowed. He placed reliance on the decisions reported in Zelan Projects (P) Ltd Vs. DCIT, ITA No.1361 (Hyd) of 2013 [2015] 63 taxmann.com 334 (Hyderabad&#....
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....espective of the year to which it relates. For the sake of completeness, we deem it just and necessary to extract the relevant observations of the Co‐ordinate Bench and they read as under: "8. We have carefully perused the provisions of section 199 of the Act and according to the pre‐amended provisions of section 199, the credit of deduction made in accordance with the relevant provisions of this chapter and paid to the Central Government, shall be given for the amount so deducted on the production of the certificate furnished u/s 203 for the assessment made under this Act for the assessment year for which such income is assessable. But in the amended provisions the words "for the assessment year for which such income is asses....