TDS Credit on House Property Sale allowed to HUF despite deduction in Individual Account

Anant Singhania HUF Vs ITO (ITAT Mumbai) In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Mumbai ruled in favour of Anant Singhania Hindu Undivided Family (HUF) in a case against the Income Tax Officer (ITO). The core issue of the appeal was the denial of TDS credit to the HUF following the sale of housing property. The verdict offers an essential understanding of tax regulations related to housing property sales by an HUF. This case centers around the denial of Tax Deducted at Source (TDS) credit of Rs. 15 lacs by the Assessing Officer (AO), a decision that was upheld by the ...