2025 (6) TMI 878

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....learned Commissioner of Income tax (Appeals) has erred in passing the impugned order in the manner passed and is dismissing the appeal. The impugned order as passed and is liable to be quashed. 2. In the case the Commissioner of Income tax (Appeals) has erred in upholding the order made by the Deputy Director of Income tax, CPC in which full credit for TDS was not given as claimed by the appellant. The TDS of Rs. 78,44,038/- appearing in Form 26AS should have been given credit as against the credit given for Rs. 71,61,308/- by Assessing Officer. The appellant is entitled to full credit of TDS and same should have been given to it. 3. The learned Commissioner of Income tax (Appeals) has erred in holding that there is mismat....

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....rship firm filed its return of income on 2.3.2022 for the AY 2021-22 declaring total income of Rs. 3,50,68,640/- and claimed Rs. 43,470/- as refund. The returned income consists of income from house property, income from business or profession and income from other sources. Thereafter, the return of the assessee firm was processed and intimation u/s 143(1) of the Act was passed on 25.8.2022 by raising a demand of Rs. 1,35,710/- giving credit for TDS amounting to Rs. 77,36,193/- as against Rs. 78,44,038/- as claimed by the assessee in the return of income. 5. Aggrieved by the intimation passed, the assessee had filed a rectification return online on 14.9.2022 in response to which, the assessee had received rectification order u/s 154 of t....

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.... only to be considered and TDS is to be given credit accordingly. 9. Ld. D.R. on the other hand supported the order of authorities below but admitted that these facts require to be examined by the AO. 10. We have heard the rival submissions and perused the materials available on record. The main contention of the ld. CIT(A) in disallowing the credit of TDS is that the gross receipt as per 26AS was Rs. 47,59,74,485/- whereas on perusal of the audit report and profit & loss account shows the contract revenue for the year under consideration is only Rs. 42,68,47,260/- and accordingly allowed the TDS credit to the extent declared in form 26AS. Before us, the ld. AR of the assessee submitted that the assessee needs to file certain reconcil....