Lakshmi Narayan vs. Income Tax Officer

Parties Involved

Facts Summary

The assessee, Lakshmi Narayan, is an employee of Osian's Connoisseurs of Art Private Limited. During the Assessment Year 2020-21, the company deducted tax at source amounting to Rs. 6,76,000/- from the assessee's salary but did not deposit it. The assessee filed an application under Section 154 of the Income Tax Act to claim the credit for the deducted tax, which was rejected by the Assessing Officer. The assessee then filed an appeal against this order. The appeal was heard by the Income Tax Appellate Tribunal, Mumbai Bench.…

Legal Issues

• 1. Whether the learned CIT (Appeals) has erred in law and on the facts of the case in sustaining the order of the assessing officer rejecting the application u/s. 154 of the Income Tax Act not allowing credit for tax deducted at source Rs. 6,76,000/-.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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