TaxTMI 
TaxTMI 
2025 (3) TMI 2254
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.... action of the Ld. AO in making addition of Rs. 5,32,083/-, On the facts, that the said amount has already offered to tax thereby resulted in double additions, and in the circumstances of the case and in law, the addition of Rs. 5,32,083/- made ought to be deleted. 2. The Ld. CIT(A) has erred in directing the Ld. AO to grant the TDS credit of Rs. 5,32,083/- taking into account the TDS amount as mentioned in Form 26AS. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) ought to have directed to allow the TDS credit of Rs. 5,32,083/- as per the provisions of the law and the Rules made thereunder instead of on the basis of amount reflected in Form 26AS. 3. The Ld. CIT(A) has erred in treating the int....
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..../- deducted by Jayesh P. Mehta but in form 26AS only Rs. 60,000/-was reflected. 2.2 The assessee vide its letter dated 18.11.2019 has submitted reconciliation of interest income as per 26AS and as per books offered to tax. In the said reconciliation, the assessee gave breakup of interest income of Rs. 1,05,13,029/- credited in profit & loss account and offered to tax. The said interest income of Rs. 1,05,13,029/- includes gross interest income of Rs. 51,70,833/- received from Dhanji Developers on which TDS of Rs. 5,17,083/- deducted and not reflected in form 26AS (inadvertently shown as reflected in form 26AS in the said reconciliation statement). Similarly, said interest income of Rs. 1,05,13,029/- includes gross interest income of Rs. ....
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....of actual receipt of the refund. 3.2 The Ld. CIT(A) dismissed this ground by observing it to be consequential in nature with the direction to verify computation of interest u/s. 244A as per law. Aggrieved by the order of the Ld.AO assessee is in appeal before this Tribunal. 4. Ld.AR submitted that Ld.AO added Rs. 5,32,083/- to the total income of the assessee only on the ground that the TDS credit claimed by the assessee in respect of the above named two parties is not reflected in form 26AS. Ld.AR drew our attention to the party wise summary of interest submitted vide letter dated 02/12/2019 before the Ld. AO. The Ld.AR submitted that the assessee already offered gross interest income (inclusive of TDS of Rs. 5,32,083/- credit of ....
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....d on the decision of Hon'ble Coordinate Bench of the Tribunal in case of LSG Sky Chef India Pvt. Ltd. vs. DCIT reported in (2014) 45 taxmann.com 256 where in this Tribunal observed and held as under: "3 The issue or the imbroglio, however, has to be resolved. We have given our careful and anxious consideration to the matter. In our view, though Form 264S (r/w r.314B and sx. 203AA and 206C(5)) represents a part of a wholesome procedure designed by the Revenue for accounting of TDS (and TCS), the burden of proving as to why the said Form (Statement) does not reflect the details of the entire tax deducted at source for and on behalf of a deductee cannot be placed on an assessee-deductee. The assessee, by furnishing the TDS certificate....
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....the same was not reflected in form 26AS. It is also noted that, assessee offered gross income to taxed for the year under consideration. In the interest of justice we remit the issues back to the Ld.AO to carry out necessary verification having regard to the evidences filed by the assessee in accordance with law. 5.1 The Ld. AO is directed to verify the evidences filed by the assessee in the light of the ratios in decisions refered to herein above and to delete the addition made if the submissions of the assessee is found to be correct. Accordingly, Ground no. 1 and 2 raised by the assessee stands allowed for statistical purposes. 6. Ground No. 3 raised by the assessee is in respect of interest to be computed u/s. 244A of the Act t....
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....on the orders passed by the below. We have perused the submissions by both sides in the light of record placed before us. 7. It is noted that the issue is covered by the decision of Hon'ble Bombay High Court in case of Pfizer Ltd. (supra) that is followed by the coordinate bench of the Tribunal in case of Tata Sons Pvt. Ltd. (Supra) this Tribunal by observing as under: "9. On the issue of grant of refund till the date of issue of refund, the Id AR submitted that the issue is squarely covered in favour of the assessee vide the decisions of Hon'ble Bombay High Court in case of CIT vs. Pfizer Limited [1991] 191 ITR 626 (Bom) and also of City bank NA Mumbai Vs. CIT in ITA No. 6 of 2001 as well as the decision of CIT vs. K.E.C....