Credit for advance tax and TDS granted on upload of migration order

Virtusa Consulting Services Private Limited Vs DCIT (Telangana High Court)

Telangana High Court allowed credit for advance tax and TDS resulting into refund of Rs. 51.66 Crores on upload of migration order which was earlier not able to be uploaded.

Facts- The present matter relates to migration of credit for advance tax and tax deducted at source (TDS) from Polaris Consulting & Services Limited to Virtusa Consulting Services Private Limited.

Notably, the related prayer has been made following merger of Polaris with Virtusa on the basis of order of the National Company Law Tribunal dated 03.04.2018 with effect from 01.04.2017. Consequent to such merger, Virtusa requested the revenue to allow credit of taxes paid by Polaris in the merged entity of Virtusa.

Conclusion- That challan from Polaris to Virtusa has been successfully migrated. Earlier such migration could not be uploaded as manual order could not be uploaded. However, the migration order finally got uploaded manually on 07.06.2023 and credit for advance tax and TDS was allowed resulting in a refund of Rs.51.66 crores.

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