TDS Credit allowable in Years In Which Income is Assessable to tax

DCIT Vs Sasken Network Engineering Limited (ITAT Bangalore)

In terms of section 199, Rule 37BA provides that credit for tax deducted at source and paid to the Central Government shall be given for the Assessment Year for which such income is assessable. In case the income is assessable over a number of years, credit for tax deducted at source shall be allowed across those years in the same proportionate in which the income is assessable to tax.

FULL TEXT OF THE ORDER OF ITAT BANGALORE

This is an appeal by the Revenue against the order dated 30.01.2013 of CIT(Appeals)-III, Bengaluru, relating to Assessment Year 2007-08.

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