ITA No. 1492/Del/2024

Parties Involved

Facts Summary

The Assessee filed a return of income declaring taxable income of Rs. 2,25,49,722/-. The return was processed by CPC under section 143(1) of the Income Tax Act, 1961, wherein the credit of TDS was denied to the Assessee in respect of rental income. The Assessee filed a rectification application under section 154 of the Act, which was dismissed. Aggrieved by the order, the Assessee preferred an Appeal before the CIT(A). The Ld. CIT(A) dismissed the Appeal. The Assessee then preferred the present Appeal on the grounds mentioned above. The grievance of the Assessee is regarding not allowing TDS Credit of Rs. 75,000/- by the Department of Revenue. The Assessee has placed a copy of the Bank Statement depicting the deposit and bouncing of rental cheques and also a document to show that a case has been filed against the tenant for recovery of the rent. The Assessee's Representative drew attention to the case of the co-owner, Sh. Krishna Saran Dass, who is the son of the Assessee, on identical facts for the identical period, where the Ld. CIT(A) allowed the TDS Credit.…

Legal Issues

• 1. Whether the Assessee is entitled to the TDS Credit of Rs. 75,000/-?

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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