Cash Accounting: TDS Credit Allowed in year the Income is Received & offered for taxation

Theo Desh Consultants Vs ACIT (ITAT Ahmedabad) The ITAT Ahmedabad addressed the appeal by Theo Desh Consultants regarding the disallowance of TDS credit in the assessment year 2011-12. The assessee, engaged in land survey contracting, filed its return, which was scrutinized, leading to an assessment that included additional income and disallowed TDS credit of ₹12,07,747. The TDS was disallowed because the corresponding income had not been offered for taxation in that year. Theo Desh Consultants argued that, following the cash system of accounting, the income and the corresponding TDS had bee...