Jagannath Transport Corporation Vs DCIT (ITAT Raipur)
ITAT Raipur held that denial of TDS claimed based on difference between gross turnover as per 26AS and total receipts reflected in returns, without verifying reconciliation prepared by assessee, is not justified. Hence, matter restored to CIT(A).
Facts- While processing the return of assessee, the same was considered defective by the CPC and notice u/s 139(9) was issued on 13.02.2024, stating that the gross receipts of assessee reflecting in Form 26AS, on which credit for TDS has been claimed, are higher than the total of the receipts shown under all heads of income, in the return of income. Thus, while credit for TDS is being claimed, the corresponding receipts are not offered in the respective income schedules, to arrive at the taxable total income. Accordingly, the TDS credit granted to assessee was computed and has been reduced to Rs. 1,26,52,567/- as against of Rs.1,49,62,620/- claimed by the assessee in its return income. Consequently, the refund amount claimed by the assessee has been reduced to Rs. 23,10,053/-.
CIT(A) dismissed the appeal. Being aggrieved, the present appeal is filed.
Conclusion- Held that on perusal of the findings of Ld. CIT(A), it is found that the assessee had made explanatory submissions and reply before the First Appellate Authority, however, the decision of the Ld. CIT(A) was without verifying the facts by himself or through the Ld. AO, therefore, in the interest of justice, the reconciliation prepared and submitted by the assessee before us, needs further verification by the revenue authorities. Consequently, the matter deserves to be restored back to the file of Ld. CIT(A), who had decided the issue without adhering to the provisions of section 250(4) & (6).
