INCOME TAX ACT, 1961

Section 199

Tax deduction at source - TDS credit - Denial on the ground that corresponding amount received from deductor, M/s. Root Corporation ltd. had been shown by assessee only as advance rent and not rental income fro the year under consideration - Claiming pleading expenses to be related to portion of property not let out without furnishing supportive evidences

Assessee engaged in purchasing of properties and earning of income from letting out of those properties claimed credit of TDS 5,85,000, which was deducted by M/s. Root Coporation Ltd. on advance rent paid. AO denied TDS credit on the ground that corresponding amount received from deductor, M/s Root Corporation Ltd. had been shown by assessee only as advance rent and not rental income for the year under consideration.Held: Government could not sit over amount withheld and credit had to be allowed to assessee in the year rent in which advance was offered by assessee for income-tax.

Relied:Y. Rathiesh v. CIT 2015 TaxPub(DT) 1235 (AP-HC).

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2012-13

INCOME TAX ACT, 1961

Section 37(1)

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