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of <h1>Delhi High Court affirms taxpayer's right to TDS credit despite deductor's non-deposit u/s 205 of the Income Tax Act.</h1> The Delhi High Court ruled on a significant tax credit entitlement issue, determining that an assessee is entitled to credit for tax deducted at source (TDS) even if the deductor fails to deposit the TDS with the government. The assessee, involved in a transaction with Koutons Group, was initially denied credit for the deducted tax but received relief under Section 205 of the Income Tax Act 1961. The Income Tax Appellate Tribunal supported the assessee's claim, and the High Court upheld this decision, emphasizing that the nature of the deducted amount remains as 'tax.' This ruling protects taxpayers from being penalized for deductors' failures and sets a precedent for future cases.
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