ITAT Directs AO to Grant TDS Credit of Rs. 9.04 Lakh, Finds No Mismatch With Form 26AS [Read Order]
The assessee’s counsel submitted that Form 26AS, updated till 14.11.2017, correctly reflected TDS from Adani Petronet Port Pvt. Ltd. (Rs. 8,86,944), Karaikal Port Pvt. Ltd. (Rs. 3,76,062), and Starlift Services Pvt. Ltd. (Rs. 85,985), with no mismatch
Form 26AS
Form 26AS
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer (AO) to grant Tax Deducted at Source (TDS) credit of Rs. 9.04 lakh after finding no mismatch with Form 26AS.
Liebherr Werk Nenzing,appellant-assessee, through its counsel, stated that it had filed its return of income declaring total income of Rs. 2,33,85,555/- and claimed a refund of Rs. 9,61,210/-. The assessee had claimed TDS credit of Rs. 32,99,768/- as per Form 26AS.
A rectification order dated 08.10.2020 by the CPC, Bangalore, suo-moto rectified the intimation under section 143(1) and allowed TDS credit of Rs. 23,95,388/-, denying the balance Rs. 9,04,380/-.
The counsel contended this was factually incorrect, as Form 26AS (updated till 14.11.2017) showed that TDS of Rs. 8,86,944/- by Adani Petronet Port Pvt. Ltd., Rs. 3,76,062/- by Karaikal Port Pvt. Ltd., and Rs. 85,985/- by Starlift Services Pvt. Ltd. were fully reflected. The CPC, however, allowed only partial credit in some cases.
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The counsel submitted that there was no mismatch between TDS claimed and Form 26AS and requested that the AO be directed to allow the full TDS credit.
The Departmental counsel relied on the CPC and Commissioner of Income Tax (Appeals)[CIT(A)] orders.
The two member bench comprising Raj Kumar Chauhan (Judicial Member) and Vikram Sinngh Yadav (Accountant Member) reviewed the rival contentions and the record. It observed that TDS entries for Adani Petronet Port Ltd. (Rs. 8,86,944), Karaikal Port Pvt. Ltd. (Rs. 3,76,062), and Starlift Services Pvt. Ltd. (Rs. 85,985) were correctly reflected in Form 26AS, matching the amounts claimed by the assessee in its return of income.
Finding no mismatch or justification for denying credit, the tribunal directed the AO to grant TDS credit of Rs. 9,04,380/- to the assessee.
Accordingly the appeal was allowed.
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