TaxTMI 
TaxTMI 
2025 (2) TMI 1910
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....posed to facts and circumstances of the case. 2. Whether on the facts and in the circumstances of the case, the Ld.CIT(A) is correct in law in allowing the appeal of assessee despite the fact that assessee had only claimed exemption of Rs. 4,89,42,007/- as against the total receipts of Rs. 48,94,20,072/- under section 10(23AAA) of the Income Tax Act, 1961? 3. Whether on the facts and in the circumstances of the case, the Ld.CIT(A) is correct in law in allowing the appeal of assessee by ignoring the fact that the difference of Total Receipts and exemption claimed under section 10(23AAA) of the Income Tax Act, 1961, has to be brought to tax? 4. The appellant craves leave to add, alter or amend all or any of the grou....
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.... reflected in the form 26AS. The Ld.CIT(A) had also observed that the assessee is also entitled for the consequential interest u/s. 244A of the Act. 3. As against the said order of the Ld.CIT(A), the revenue is in appeal before this Tribunal. 4. At the time of hearing, the Ld.AR filed a paper book in which the relevant documents which are all required to adjudicate the appeal was filed and argued that the appeal itself is not maintainable since the Ld.CIT(A) had granted the relief in respect of the TDS only but the revenue disputed the income received by the assessee which could not be raised by the revenue for the first time before this Tribunal. 5. The Ld.DR appearing for the revenue contended that the assessee had claimed exempt....
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....imation passed under section 143(1) be quashed Or alternatively (i) TDS credit of Rs. 1,26,91,974/- as claimed in the Return of income and as available in Form no. 26AS be allowed. (ii) Refund claimed along with applicable interest u/s. 244A be allowed. The appellant prays accordingly." 8. We have gone through the grounds raised by the assessee in which the assessee had disputed the TDS credit which was not allowed by the CPC even though the said TDS amount was reflected in form 26AS. There is no dispute with regard to the income received by the assessee from the company and therefore the Ld.CIT(A) had considered the grounds raised by the assessee and allowed the claim made by the assessee. The relevant finding....
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....e)Appeal Number : ITA No. 529/Pun/2022 dated 06/01/2023 it is held that the combined reading of Section 199(3) r.w. Rule 37BA(3) makes the position of law clear that, credit for TDS is available in the year in which the income is reported. It may further be mentioned that the dividend has been made taxable in the hands of the recipient with effect from 01.04.2020. This issue of claim of the appellant that the dividend received from Infosys Ltd. which is appearing in Form 26AS and is considered as receipts in the return for AY 2021-22, requires factual verification. Therefore, the AO is directed to factually verify and allow the claim of TDS credit, in case the dividend received from Infosys Ltd. has been considered by the appellant in the i....